HC Wainwright Weighs in on Tarsus Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:TARS)

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Rating) – Equities researchers at HC Wainwright lifted their FY2023 earnings estimates for Tarsus Pharmaceuticals in a report released on Wednesday, March 15th. HC Wainwright analyst O. Livnat now expects that the company will post earnings per share of ($4.85) for the year, up from their previous forecast of ($5.17). HC Wainwright has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Tarsus Pharmaceuticals’ current full-year earnings is ($4.66) per share. HC Wainwright also issued estimates for Tarsus Pharmaceuticals’ FY2024 earnings at ($3.23) EPS, FY2025 earnings at $0.30 EPS, FY2026 earnings at $2.72 EPS and FY2027 earnings at $4.98 EPS.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $12.75 on Friday. The company has a market cap of $340.04 million, a price-to-earnings ratio of -5.00 and a beta of 0.69. Tarsus Pharmaceuticals has a twelve month low of $10.80 and a twelve month high of $19.66. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $15.07 and a two-hundred day moving average of $15.87.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $14.57, for a total value of $116,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,130,151 shares in the company, valued at $16,466,300.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Bobak R. Azamian sold 8,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $14.57, for a total transaction of $116,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,130,151 shares in the company, valued at $16,466,300.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bobak R. Azamian sold 3,904 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $15.11, for a total transaction of $58,989.44. Following the sale, the chief executive officer now owns 1,124,613 shares of the company’s stock, valued at $16,992,902.43. The disclosure for this sale can be found here. Insiders sold a total of 59,500 shares of company stock worth $867,578 over the last three months. Corporate insiders own 33.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C purchased a new position in Tarsus Pharmaceuticals in the second quarter valued at $19,334,000. Jefferies Financial Group Inc. purchased a new position in Tarsus Pharmaceuticals in the fourth quarter valued at $6,535,000. Vanguard Group Inc. increased its holdings in Tarsus Pharmaceuticals by 42.7% in the third quarter. Vanguard Group Inc. now owns 935,649 shares of the company’s stock valued at $16,018,000 after buying an additional 279,826 shares in the last quarter. Macquarie Group Ltd. purchased a new position 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 buying an additional 103,633 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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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.