Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Rating Lowered by Zacks Research

Tarsus Pharmaceuticals (NASDAQ:TARS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

TARS has been the topic of several other research reports. Mizuho decreased their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Guggenheim dropped their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Finally, Barclays initiated coverage on Tarsus Pharmaceuticals in a research report on Wednesday, September 16th. They issued an “overweight” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.86.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $73.61 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. Tarsus Pharmaceuticals has a 52 week low of $53.89 and a 52 week high of $91.53. The firm’s fifty day moving average is $73.96 and its 200 day moving average is $67.12. The firm has a market cap of $3.23 billion, a P/E ratio of -67.53 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The business had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. Research analysts predict that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Elizabeth Lin sold 10,773 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $87.50, for a total value of $942,637.50. Following the completion of the transaction, the insider directly owned 2,547 shares in the company, valued at approximately $222,862.50. This represents a 80.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer owned 827,991 shares of the company’s stock, valued at $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 48,031 shares of company stock valued at $4,004,227. 9.64% of the stock is currently owned by company insiders.

Institutional Trading of Tarsus Pharmaceuticals

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter worth approximately $242,705,000. Jupiter Topco LLC purchased a new stake in Tarsus Pharmaceuticals in the second quarter worth $176,834,000. Janus Henderson Group PLC grew its stake in Tarsus Pharmaceuticals by 16.1% in the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock worth $157,223,000 after purchasing an additional 310,638 shares during the period. Assenagon Asset Management S.A. raised its holdings in Tarsus Pharmaceuticals by 13.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,280,194 shares of the company’s stock worth $89,806,000 after purchasing an additional 152,464 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings 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 worth $83,786,000 after purchasing an additional 436,271 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company concentrates on areas of significant unmet need in ophthalmology and aims to address conditions that can affect ocular health, comfort and vision.

Tarsus’ primary product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis.