Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 5.9% – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) was down 5.9% during trading on Thursday . The stock traded as low as $67.83 and last traded at $67.58. Approximately 129,433 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 548,299 shares. The stock had previously closed at $71.80.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TARS. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Wall Street Zen raised Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Guggenheim raised their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Oppenheimer raised their target price on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.83.

Tarsus Pharmaceuticals Stock Down 6.6%

The firm has a 50 day simple moving average of $69.09 and a two-hundred day simple moving average of $72.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.85 and a quick ratio of 3.82. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -41.40 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%.The business had revenue of $151.67 million during the quarter, compared to the consensus estimate of $144.56 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dianne C. Whitfield sold 4,174 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $279,658.00. Following the completion of the transaction, the insider owned 35,028 shares of the company’s stock, valued at $2,346,876. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $68.79, for a total value of $859,875.00. Following the completion of the transaction, the director directly owned 116,332 shares of the company’s stock, valued at $8,002,478.28. This represents a 9.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 79,391 shares of company stock worth $5,432,035. 8.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its stake in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after buying an additional 705 shares during the period. Truvestments Capital LLC raised its stake in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after buying an additional 468 shares during the period. Rockefeller Capital Management L.P. raised its stake in Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares during the period. Leonteq Securities AG acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $164,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Tarsus Pharmaceuticals by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company’s stock worth $169,000 after buying an additional 431 shares during the period. Institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.