Millennium Management LLC Increases Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Millennium Management LLC boosted its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 189.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,010 shares of the company’s stock after purchasing an additional 421,495 shares during the quarter. Millennium Management LLC owned about 1.68% of Tarsus Pharmaceuticals worth $35,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TARS. Lord Abbett & CO. LLC raised its stake in Tarsus Pharmaceuticals by 115.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after purchasing an additional 685,111 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Tarsus Pharmaceuticals by 5,636.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company’s stock worth $22,383,000 after acquiring an additional 397,190 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares in the last quarter. Invesco Ltd. raised its stake in shares of Tarsus Pharmaceuticals by 36.7% during the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company’s stock worth $51,611,000 after acquiring an additional 250,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Tarsus Pharmaceuticals by 92.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 460,773 shares of the company’s stock worth $25,514,000 after acquiring an additional 221,458 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 7,131 shares of Tarsus Pharmaceuticals 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 sale, the chief executive officer now owns 70,720 shares in the company, valued at $3,273,628.80. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dianne C. Whitfield sold 2,315 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $107,161.35. Following the sale, the insider now owns 50,751 shares in the company, valued at approximately $2,349,263.79. This trade represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock worth $1,581,173 over the last quarter. Corporate insiders own 8.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. 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. Barclays decreased their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. 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. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $66.33.

Tarsus Pharmaceuticals Stock Up 0.5%

Shares of Tarsus Pharmaceuticals stock opened at $43.70 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -11.47 and a beta of 0.94. The company’s 50 day moving average price is $48.05 and its 200-day moving average price is $49.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) 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%. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

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.