Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s stock price traded up 9.6% on Friday . The company traded as high as $63.90 and last traded at $64.39. 513,044 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 663,138 shares. The stock had previously closed at $58.77.
Wall Street Analysts Forecast Growth
TARS has been the topic of several recent analyst reports. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.67.
Read Our Latest Report on TARS
Tarsus Pharmaceuticals Trading Up 10.9%
The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -27.97 and a beta of 0.81. The business has a fifty day moving average price of $52.98 and a 200 day moving average price of $47.61.
Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly 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 firm had revenue of $102.66 million for the quarter, compared to analysts' expectations of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. As a group, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total value of $332,220.00. Following the completion of the sale, the chief executive officer owned 812,106 shares in the company, valued at $44,966,309.22. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Phd Link sold 27,116 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the sale, the director directly owned 143,332 shares of the company's stock, valued at $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,116 shares of company stock valued at $2,177,832. Company insiders own 8.97% of the company's stock.
Institutional Investors Weigh In On Tarsus Pharmaceuticals
A number of institutional investors have recently bought and sold shares of the business. 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 purchasing an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tarsus Pharmaceuticals by 26.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company's stock worth $66,000 after acquiring an additional 339 shares in the last quarter. Osaic Holdings Inc. boosted its position in Tarsus Pharmaceuticals by 779.1% during the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company's stock valued at $113,000 after purchasing an additional 2,462 shares during the last quarter. Quarry LP grew its stake in Tarsus Pharmaceuticals by 20.0% in the first quarter. Quarry LP now owns 3,599 shares of the company's stock valued at $185,000 after purchasing an additional 599 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in Tarsus Pharmaceuticals in the 1st quarter worth about $189,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
About Tarsus Pharmaceuticals
(
Get Free Report)
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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