Tarsus Pharmaceuticals (NASDAQ:TARS) Reaches New 52-Week High - What's Next?

Key Points

• Tarsus Pharmaceuticals reached a new 52-week high of $66.77 during trading, with a last trade at $66.51, indicating strong market performance.
• Analysts provide a mixed outlook, with a consensus rating of "Moderate Buy" and a target price of $66.67, though Weiss Ratings maintains a "sell" rating.
• Insider activity includes significant share sales by both Director William J. Phd Link and CEO Bobak R. Azamian, indicating strategic adjustments among company leaders.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $66.77 and last traded at $66.51, with a volume of 4879 shares traded. The stock had previously closed at $65.17.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Saturday, September 27th. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Stock Up 2.0%

The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -28.80 and a beta of 0.81. The stock's fifty day simple moving average is $52.98 and its two-hundred day simple moving average is $47.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21.

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

Insider Transactions at Tarsus Pharmaceuticals

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

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Large investors have recently made changes to their positions in the business. Amalgamated Bank boosted 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 valued at $65,000 after purchasing an additional 295 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Tarsus Pharmaceuticals by 36,430.6% during the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after purchasing an additional 13,115 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Tarsus Pharmaceuticals by 4.3% during the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock valued at $2,655,000 after purchasing an additional 2,148 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter valued at about $26,199,000. Finally, Strs Ohio bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter valued at about $288,000. Institutional investors 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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