State of New Jersey Common Pension Fund D Invests $885,000 in Tarsus Pharmaceuticals, Inc. $TARS

State of New Jersey Common Pension Fund D acquired a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 10,806 shares of the company’s stock, valued at approximately $885,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Comerica Bank boosted its holdings in shares of Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after acquiring an additional 705 shares during the period. D.A. Davidson & CO. bought a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $1,493,000. Vanguard Group Inc. grew its holdings in Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after buying an additional 127,470 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $2,820,000. Finally, M&T Bank Corp lifted its holdings in shares of Tarsus Pharmaceuticals by 11,730.0% in the fourth quarter. M&T Bank Corp now owns 437,119 shares of the company’s stock worth $35,791,000 after buying an additional 433,424 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 11,964 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $801,588.00. Following the sale, the chief executive officer owned 33,421 shares in the company, valued at $2,239,207. This trade represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $68.79, for a total value of $859,875.00. Following the sale, the director directly owned 116,332 shares of the company’s stock, valued at approximately $8,002,478.28. This trade represents a 9.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 79,391 shares of company stock worth $5,432,035 in the last three months. Insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $59.65 on Tuesday. The firm has a 50 day simple moving average of $68.16 and a two-hundred day simple moving average of $71.72. The stock has a market cap of $2.57 billion, a PE ratio of -52.32 and a beta of 0.52. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The firm had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. On average, analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TARS has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Zacks Research downgraded Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 target price for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Tarsus Pharmaceuticals 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.