Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 2.9% – Here’s Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price was down 2.9% on Monday . The stock traded as low as $48.74 and last traded at $48.52. Approximately 93,823 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 643,786 shares. The stock had previously closed at $49.97.

Analyst Ratings Changes

Several research firms have weighed in on TARS. Barclays dropped their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Guggenheim reiterated a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Oppenheimer raised their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. 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.com, the company has an average rating of “Buy” and an average price target of $63.67.

Tarsus Pharmaceuticals Stock Performance

The firm has a market cap of $1.97 billion, a PE ratio of -13.47 and a beta of 1.05. The company has a 50-day simple moving average of $48.73 and a two-hundred day simple moving average of $45.78. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping 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 business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,341 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. This represents a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the sale, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,542 shares of company stock valued at $1,281,173 in the last 90 days. 8.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently bought and sold shares of TARS. Summit Investment Advisors Inc. boosted its position in Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock valued at $213,000 after buying an additional 244 shares during the period. Sherbrooke Park Advisers LLC lifted its holdings in Tarsus Pharmaceuticals by 7.2% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock worth $364,000 after buying an additional 443 shares during the period. Crowley Wealth Management Inc. bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth approximately $25,000. Bank of New York Mellon Corp increased its stake in shares of Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock valued at $5,644,000 after buying an additional 498 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company’s stock valued at $2,898,000 after acquiring an additional 600 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.