Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 12-Month High - Time to Buy?

Key Points

• Tarsus Pharmaceuticals reached a new 12-month high, trading at $70.80, with a last price of $69.79.
• Analysts currently have a consensus rating of "Moderate Buy" for Tarsus Pharmaceuticals, with a target price of $66.67.
• Insiders have been selling shares recently, including a director selling 27,116 shares for over $1.5 million, indicating potential caution among insiders.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $70.80 and last traded at $69.79, with a volume of 15083 shares trading hands. The stock had previously closed at $70.14.

Wall Street Analyst Weigh In

A number of brokerages have commented on TARS. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Trading Down 0.3%

The business has a 50 day moving average of $55.88 and a 200-day moving average of $48.22. The stock has a market cap of $2.95 billion, a PE ratio of -30.02 and a beta of 0.81. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). The company had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. On average, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 27,116 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the sale, the director directly owned 143,332 shares in the company, valued at approximately $8,169,924. The trade was a 15.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the transaction, the chief executive officer directly owned 812,106 shares of the company's stock, valued at $44,966,309.22. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,116 shares of company stock valued at $2,177,832. 8.97% of the stock is owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tarsus Pharmaceuticals by 26.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company's stock valued at $66,000 after purchasing an additional 339 shares during the period. Federated Hermes Inc. grew its position in shares of Tarsus Pharmaceuticals by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company's stock valued at $2,229,000 after purchasing an additional 339 shares during the period. Arizona State Retirement System raised its holdings in shares of Tarsus Pharmaceuticals by 6.1% during the first quarter. Arizona State Retirement System now owns 8,182 shares of the company's stock worth $420,000 after acquiring an additional 470 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Tarsus Pharmaceuticals by 6.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,626 shares of the company's stock worth $349,000 after purchasing an additional 505 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

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