Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Up 3.1%

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shot up 3.1% on Tuesday . The stock traded as high as $17.11 and last traded at $17.06. 90,961 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 242,436 shares. The stock had previously closed at $16.55.

Analyst Upgrades and Downgrades

TARS has been the topic of several analyst reports. Bank of America raised their target price on Tarsus Pharmaceuticals from $42.00 to $54.00 in a report on Wednesday, July 26th. Guggenheim raised their target price on Tarsus Pharmaceuticals from $46.00 to $49.00 and gave the company a “buy” rating in a report on Monday, September 11th. William Blair assumed coverage on Tarsus Pharmaceuticals in a report on Tuesday, July 18th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, HC Wainwright dropped their price objective on Tarsus Pharmaceuticals from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, August 11th.

Tarsus Pharmaceuticals Stock Up 3.4 %

The firm has a market capitalization of $558.13 million, a P/E ratio of -4.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 12.43 and a current ratio of 12.43. The stock has a fifty day moving average price of $17.88 and a two-hundred day moving average price of $16.29.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Thursday, August 10th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.09). Research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -4.79 EPS for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 8,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $18.63, for a total transaction of $149,040.00. Following the completion of the transaction, the chief executive officer now owns 1,023,006 shares in the company, valued at approximately $19,058,601.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Bobak R. Azamian sold 8,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $18.63, for a total value of $149,040.00. Following the completion of the sale, the chief executive officer now owns 1,023,006 shares in the company, valued at $19,058,601.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth Yeu Lin acquired 9,506 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $16.80 per share, with a total value of $159,700.80. Following the acquisition, the director now owns 15,866 shares of the company’s stock, valued at $266,548.80. The disclosure for this purchase can be found here. In the last quarter, insiders sold 131,300 shares of company stock worth $2,570,189. 11.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Tarsus Pharmaceuticals by 122.0% during the second quarter. Royal Bank of Canada now owns 2,817 shares of the company’s stock worth $50,000 after purchasing an additional 1,548 shares during the period. UBS Group AG raised its position in Tarsus Pharmaceuticals by 37.0% during the first quarter. UBS Group AG now owns 4,226 shares of the company’s stock valued at $71,000 after buying an additional 1,142 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Tarsus Pharmaceuticals during the third quarter valued at $94,000. Simplex Trading LLC acquired a new position in Tarsus Pharmaceuticals during the second quarter valued at $97,000. Finally, Legal & General Group Plc raised its position in Tarsus Pharmaceuticals by 182.9% during the fourth quarter. Legal & General Group Plc now owns 6,903 shares of the company’s stock valued at $101,000 after buying an additional 4,463 shares during the period. 70.02% of the stock is owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a 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 for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.