Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down - Time to Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $50.30, but opened at $48.89. Tarsus Pharmaceuticals shares last traded at $48.99, with a volume of 114,190 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TARS shares. The Goldman Sachs Group raised their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday. HC Wainwright restated a "buy" rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Barclays dropped their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals currently has an average rating of "Buy" and an average target price of $66.33.

Tarsus Pharmaceuticals Stock Performance

The company has a market cap of $1.99 billion, a price-to-earnings ratio of -12.43 and a beta of 0.94. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The company's fifty day moving average price is $48.17 and its two-hundred day moving average price is $48.95.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.05. The firm had revenue of $78.34 million during the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Bobak R. Azamian sold 8,534 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the completion of the sale, the chief executive officer now directly owns 53,635 shares of the company's stock, valued at $2,687,649.85. This represents a 13.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares in the company, valued at approximately $2,687,458.53. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,542 shares of company stock valued at $1,581,173. Insiders own 8.25% of the company's stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Crowley Wealth Management Inc. acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new position in Tarsus Pharmaceuticals during the fourth quarter worth $44,000. R Squared Ltd acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $53,000. Amalgamated Bank boosted its holdings in shares of Tarsus Pharmaceuticals by 30.1% during the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after acquiring an additional 295 shares during the period. Finally, Quarry LP acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $166,000. 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.