Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 6.1% – Should You Sell?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) traded down 6.1% on Wednesday . The company traded as low as $68.46 and last traded at $68.5450. 258,989 shares changed hands during trading, a decline of 57% from the average session volume of 608,188 shares. The stock had previously closed at $73.02.

Wall Street Analysts Forecast Growth

TARS has been the subject of a number of analyst reports. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Mizuho began coverage on shares of Tarsus Pharmaceuticals in a research report on Thursday, November 20th. They set an “outperform” rating and a $100.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Thursday, January 22nd. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Barclays assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, December 8th. They issued an “overweight” rating and a $100.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.83.

Tarsus Pharmaceuticals Price Performance

The stock has a 50 day moving average of $70.98 and a two-hundred day moving average of $69.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85. The stock has a market cap of $2.99 billion, a PE ratio of -43.25 and a beta of 0.55.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%.The firm had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. Equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $82.51, for a total transaction of $495,060.00. Following the transaction, the chief executive officer owned 857,991 shares of the company’s stock, valued at approximately $70,792,837.41. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dianne C. Whitfield sold 7,397 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the completion of the sale, the insider directly owned 38,958 shares of the company’s stock, valued at $3,120,535.80. This represents a 15.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Tarsus Pharmaceuticals by 5.5% during the third quarter. Jennison Associates LLC now owns 2,604,580 shares of the company’s stock worth $154,790,000 after buying an additional 136,582 shares during the last quarter. TFG Asset Management GP Ltd grew its position in shares of Tarsus Pharmaceuticals by 40.1% during the 2nd quarter. TFG Asset Management GP Ltd now owns 250,000 shares of the company’s stock valued at $10,128,000 after acquiring an additional 71,530 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter worth approximately $14,264,000. TimesSquare Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals in the 3rd quarter worth approximately $15,898,000. Finally, Jump Financial LLC raised its holdings in shares of Tarsus Pharmaceuticals by 385.9% in the 2nd quarter. Jump Financial LLC now owns 237,117 shares of the company’s stock worth $9,606,000 after purchasing an additional 188,317 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.