Bobak R. Azamian Sells 6,000 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at approximately $41,205,300. The trade was a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $50.65 on Friday. The firm’s 50 day simple moving average is $48.89 and its 200 day simple moving average is $45.85. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -13.29 and a beta of 1.05. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The firm had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. As a group, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Paradigm Biocapital Advisors LP grew its position in Tarsus Pharmaceuticals by 3.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after acquiring an additional 91,451 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after purchasing an additional 321,552 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tarsus Pharmaceuticals by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock valued at $117,117,000 after purchasing an additional 17,839 shares during the last quarter. Toronto Dominion Bank acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $105,714,000. Finally, Lord Abbett & CO. LLC lifted its stake in Tarsus Pharmaceuticals by 115.2% in the 4th 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 during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TARS shares. Jefferies Financial Group lifted their price objective 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. Oppenheimer lifted their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Finally, Barclays cut their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Buy” and an average price target of $63.67.

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.