BlackRock Inc. Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

BlackRock Inc. acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 2nd quarter, HoldingsChannel reports. The firm acquired 3,856,137 shares of the company’s stock, valued at approximately $242,705,000. BlackRock Inc. owned approximately 0.09% of Tarsus Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 127,470 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Tarsus Pharmaceuticals by 24.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock valued at $27,221,000 after purchasing an additional 64,941 shares during the last quarter. Bank of America Corp DE grew its stake in Tarsus Pharmaceuticals by 57.5% in the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $1,493,000. Finally, Ishara Investments LP acquired a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $1,965,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Guggenheim dropped their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Mizuho lowered their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Tarsus Pharmaceuticals Trading Down 1.1%

Shares of TARS stock opened at $70.65 on Thursday. The business’s 50 day moving average is $64.05 and its two-hundred day moving average is $65.24. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $85.25. The company has a market cap of $3.10 billion, a PE ratio of -64.82 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. Equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director William J. Phd Link sold 12,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director owned 106,786 shares in the company, valued at $6,633,546.32. This represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,233 shares in the company, valued at $138,624.64. This trade represents a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by company insiders.

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.