Prudential Financial Inc. Boosts Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Prudential Financial Inc. lifted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,735 shares of the company’s stock after buying an additional 45,240 shares during the period. Prudential Financial Inc. owned approximately 0.39% of Tarsus Pharmaceuticals worth $8,235,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Intech Investment Management LLC bought a new position in Tarsus Pharmaceuticals in the 3rd quarter valued at $282,000. Charles Schwab Investment Management Inc. increased its holdings in Tarsus Pharmaceuticals by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 290,009 shares of the company’s stock worth $9,538,000 after buying an additional 28,130 shares during the last quarter. FMR LLC raised its position in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tarsus Pharmaceuticals by 10.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,835 shares of the company’s stock valued at $1,935,000 after acquiring an additional 5,709 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter worth approximately $763,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $51.74 on Friday. The firm has a 50 day moving average of $49.00 and a 200-day moving average of $46.10. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.99 billion, a P/E ratio of -13.58 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28.

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,084 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $154,539.24. Following the transaction, the general counsel now owns 51,712 shares of the company’s stock, valued at $2,591,288.32. This represents a 5.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne C. Whitfield sold 2,315 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the sale, the insider now directly owns 50,751 shares of the company’s stock, valued at $2,349,263.79. This represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 in the last 90 days. Corporate insiders own 8.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TARS. Jefferies Financial Group increased their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Guggenheim restated a “buy” rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Barclays cut their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Buy” and an average target price of $63.67.

About Tarsus Pharmaceuticals

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.