Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Forecasted to Post Q1 2023 Earnings of ($0.92) Per Share

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Rating) – Equities research analysts at Oppenheimer dropped their Q1 2023 EPS estimates for shares of Tarsus Pharmaceuticals in a note issued to investors on Tuesday, March 14th. Oppenheimer analyst F. Brisebois now forecasts that the company will post earnings of ($0.92) per share for the quarter, down from their previous estimate of ($0.90). The consensus estimate for Tarsus Pharmaceuticals’ current full-year earnings is ($4.86) per share. Oppenheimer also issued estimates for Tarsus Pharmaceuticals’ Q2 2023 earnings at ($1.08) EPS, Q3 2023 earnings at ($1.15) EPS, Q4 2023 earnings at ($1.12) EPS and FY2023 earnings at ($4.26) EPS.

Separately, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $13.42 on Thursday. The firm’s 50 day simple moving average is $15.12 and its 200 day simple moving average is $15.88. The firm has a market capitalization of $357.91 million, a price-to-earnings ratio of -5.26 and a beta of 0.69. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.10. Tarsus Pharmaceuticals has a 1 year low of $10.80 and a 1 year high of $19.66.

Insiders Place Their Bets

In other news, CFO Leonard M. Greenstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $14.56, for a total value of $72,800.00. Following the sale, the chief financial officer now directly owns 39,289 shares in the company, valued at approximately $572,047.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Leonard M. Greenstein sold 5,000 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were sold at an average price of $14.56, for a total transaction of $72,800.00. Following the completion of the transaction, the chief financial officer now directly owns 39,289 shares in the company, valued at $572,047.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 8,000 shares of the stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $14.56, for a total value of $116,480.00. Following the completion of the transaction, the chief executive officer now owns 1,116,613 shares of the company’s stock, valued at $16,257,885.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,993 shares of company stock valued at $669,816. 24.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at approximately $19,334,000. Jefferies Financial Group Inc. acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth $6,535,000. Vanguard Group Inc. grew its stake in shares of Tarsus Pharmaceuticals by 42.7% in the third quarter. Vanguard Group Inc. now owns 935,649 shares of the company’s stock worth $16,018,000 after purchasing an additional 279,826 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Tarsus Pharmaceuticals in the second quarter valued at $2,524,000. Finally, State Street Corp increased its holdings in Tarsus Pharmaceuticals by 78.0% in the second quarter. State Street Corp now owns 236,516 shares of the company’s stock valued at $3,453,000 after purchasing an additional 103,633 shares during the period. 76.82% of the stock is currently owned by institutional investors.

About Tarsus Pharmaceuticals

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Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.