Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Free Report)’s share price fell 5.1% during mid-day trading on Thursday . The company traded as low as $66.15 and last traded at $64.2490. Approximately 60,286 shares traded hands during trading, a decline of 91% from the average session volume of 677,016 shares. The stock had previously closed at $67.73.
Wall Street Analyst Weigh In
TARS has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday. Wall Street Zen upgraded Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Finally, Oppenheimer started coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.67.
Check Out Our Latest Analysis on TARS
Tarsus Pharmaceuticals Price Performance
Tarsus Pharmaceuticals (NASDAQ:TARS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The business had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current year.
Insider Transactions at Tarsus Pharmaceuticals
In other news, Director Katherine Goodrich sold 2,954 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director owned 2,233 shares in the company, valued at $138,624.64. The trade was a 56.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.12, for a total value of $776,500.00. Following the transaction, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This trade represents a 10.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,850 shares of company stock valued at $2,452,821 over the last quarter. Corporate insiders own 9.64% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP boosted its stake in shares of Tarsus Pharmaceuticals by 340.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 19,800 shares of the company’s stock valued at $1,389,000 after purchasing an additional 15,300 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after buying an additional 291 shares during the period. Bank of America Corp DE raised its stake in shares of Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock worth $83,786,000 after buying an additional 436,271 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Tarsus Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock worth $157,223,000 after buying an additional 310,638 shares during the last quarter. Finally, Tri Locum Partners LP bought a new stake in shares of Tarsus Pharmaceuticals during the first quarter worth approximately $17,719,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Tarsus Pharmaceuticals Company Profile
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.
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