Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Free Report)’s stock price rose 6.5% during mid-day trading on Wednesday . The stock traded as high as $78.43 and last traded at $78.88. Approximately 236,637 shares were traded during mid-day trading, a decline of 68% from the average session volume of 734,863 shares. The stock had previously closed at $74.05.
Analysts Set New Price Targets
Several research analysts have recently commented on TARS shares. Mizuho reduced their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Guggenheim decreased their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Two research 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 given a Sell rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.
Get Our Latest Research Report on TARS
Tarsus Pharmaceuticals Trading Up 8.1%
Tarsus Pharmaceuticals (NASDAQ:TARS – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.
Insider Activity
In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the transaction, the insider owned 56,801 shares in the company, valued at $3,462,020.95. The trade was a 20.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the sale, the chief executive officer directly owned 847,991 shares in the company, valued at approximately $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,850 shares of company stock worth $2,452,821 over the last three months. Insiders own 9.64% of the company’s stock.
Hedge Funds Weigh In On Tarsus Pharmaceuticals
Several large investors have recently bought and sold shares of TARS. Parallel Advisors LLC lifted its holdings in 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 last quarter. PNC Financial Services Group Inc. boosted its position in shares of Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after acquiring an additional 558 shares in the last quarter. Comerica Bank increased its holdings in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after acquiring an additional 705 shares during the last quarter. Truvestments Capital LLC raised its position in shares of 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 acquiring an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of 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 acquiring an additional 172 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 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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