Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down - Should You Sell?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $42.65, but opened at $41.53. Tarsus Pharmaceuticals shares last traded at $41.02, with a volume of 140,552 shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Guggenheim lifted their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Monday. They set an "outperform" rating and a $75.00 price target on the stock. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target on the stock in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group raised their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Price Performance

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 stock has a market cap of $1.85 billion, a P/E ratio of -11.53 and a beta of 0.83. The firm's fifty day moving average price is $46.32 and its 200-day moving average price is $48.87.

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,341 shares of the firm's 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 completion of the transaction, the general counsel now owns 58,057 shares of the company's stock, valued at approximately $2,687,458.53. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 7,131 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $330,093.99. Following the transaction, the chief executive officer now directly owns 70,720 shares of the company's stock, valued at $3,273,628.80. This represents a 9.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,542 shares of company stock valued at $1,581,173. 8.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TARS. Summit Investment Advisors Inc. raised its position in shares of Tarsus Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after purchasing an additional 244 shares during the last quarter. Amalgamated Bank grew its stake 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 during the period. Sherbrooke Park Advisers LLC grew its stake in shares of Tarsus Pharmaceuticals by 7.2% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company's stock valued at $364,000 after acquiring an additional 443 shares during the period. Crowley Wealth Management Inc. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth approximately $25,000. Finally, Arizona State Retirement System lifted its holdings in Tarsus Pharmaceuticals by 6.1% in the 1st quarter. Arizona State Retirement System now owns 8,182 shares of the company's stock worth $420,000 after purchasing an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Company Profile

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.