Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks reports.

TARS has been the subject of a number of other reports. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Mizuho cut their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Guggenheim reduced their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. HC Wainwright reissued a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Finally, Oppenheimer raised their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.86.

Tarsus Pharmaceuticals Stock Down 0.7%

Shares of Tarsus Pharmaceuticals stock opened at $73.61 on Tuesday. 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 company’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $67.12. The company has a market cap of $3.23 billion, a P/E ratio of -67.53 and a beta of 0.44. Tarsus Pharmaceuticals has a 12-month low of $53.89 and a 12-month high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million during 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%. Research analysts anticipate that Tarsus Pharmaceuticals will post -4.25 EPS for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Friday, September 4th. The shares were 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 directly owned 827,991 shares in the company, valued at approximately $74,982,864.96. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director William J. Phd Link sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $78.38, for a total value of $979,750.00. Following the completion of the sale, the director directly owned 94,487 shares in the company, valued at approximately $7,405,891.06. This represents a 11.68% 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. Insiders sold a total of 48,031 shares of company stock valued at $4,004,227 in the last three months. Company insiders own 9.64% of the company’s stock.

Institutional Trading of Tarsus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in TARS. BlackRock Inc. bought a new stake in Tarsus Pharmaceuticals in the second quarter worth $242,705,000. Jupiter Topco LLC bought a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at $176,834,000. Janus Henderson Group PLC increased its holdings in shares of Tarsus Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after acquiring an additional 310,638 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Tarsus Pharmaceuticals by 13.5% in the 1st 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 during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Tarsus Pharmaceuticals by 57.5% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.