Tarsus Pharmaceuticals (NASDAQ:TARS) Cut to “Hold” at Wall Street Zen

Tarsus Pharmaceuticals (NASDAQ:TARS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

TARS has been the topic of several other research reports. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $90.67.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded down $6.00 during mid-day trading on Friday, hitting $58.14. 2,367,158 shares of the stock were exchanged, compared to its average volume of 1,085,784. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $85.25. The company has a 50-day simple moving average of $62.57 and a 200 day simple moving average of $67.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The company has a market capitalization of $2.50 billion, a P/E ratio of -51.00 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. Sell-side analysts anticipate that Tarsus Pharmaceuticals will post -0.86 earnings per share for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the transaction, the insider owned 56,801 shares in the company, valued at approximately $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.08, for a total value of $183,384.32. Following the transaction, the director directly owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. This trade represents a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 39,850 shares of company stock worth $2,452,821. Company insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its stake in Tarsus Pharmaceuticals by 20.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 23,796 shares of the company’s stock valued at $1,498,000 after acquiring an additional 4,092 shares during the period. Wasatch Advisors LP bought a new position in Tarsus Pharmaceuticals during the second quarter worth about $23,198,000. E. Ohman J or Asset Management AB boosted its position in Tarsus Pharmaceuticals by 8.8% during the second quarter. E. Ohman J or Asset Management AB now owns 45,794 shares of the company’s stock worth $2,882,000 after purchasing an additional 3,707 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Tarsus Pharmaceuticals by 8.7% in the second quarter. Handelsbanken Fonder AB now owns 15,000 shares of the company’s stock worth $944,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Seven Fleet Capital Management LP increased its stake in shares of Tarsus Pharmaceuticals by 340.0% in the first quarter. Seven Fleet Capital Management LP now owns 19,800 shares of the company’s stock worth $1,389,000 after purchasing an additional 15,300 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

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.