Tarsus Pharmaceuticals (NASDAQ:TARS) Hits New 1-Year High – Here’s Why

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $85.75 and last traded at $85.6450, with a volume of 298739 shares changing hands. The stock had previously closed at $83.21.

Analyst Upgrades and Downgrades

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

Tarsus Pharmaceuticals Stock Performance

The company’s 50-day moving average is $65.45 and its two-hundred day moving average is $65.75. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.79 billion, a P/E ratio of -79.15 and a beta of 0.54.

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

Insiders Place Their Bets

In other news, Director William Link, PhD 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 value of $776,500.00. Following the completion of the transaction, the director owned 106,786 shares of the company’s stock, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 51,428 shares of company stock worth $3,350,810. Company insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TARS. Parallel Advisors LLC raised its holdings in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 291 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after purchasing an additional 558 shares in the last quarter. Comerica Bank boosted its stake in Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after purchasing an additional 705 shares during the period. Truvestments Capital LLC grew its holdings in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after buying an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after buying an additional 172 shares during the last quarter. Institutional investors 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.