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

Tarsus Pharmaceuticals (NASDAQ:TARS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

A number of other equities research analysts have also recently commented on the stock. Mizuho reduced their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Friday, July 31st. The Goldman Sachs Group began coverage on Tarsus Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $116.00 price target for the company. Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Barclays initiated coverage on shares of Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They issued an “overweight” rating and a $110.00 price target on the stock. Finally, Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.86.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $72.29 on Tuesday. The stock has a market capitalization of $3.17 billion, a PE ratio of -66.32 and a beta of 0.44. Tarsus Pharmaceuticals has a one year low of $53.89 and a one year high of $91.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. The business’s 50 day simple moving average is $75.17 and its 200 day simple moving average is $67.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. As a group, research analysts forecast that Tarsus Pharmaceuticals will post -4.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the transaction, the chief executive officer directly owned 827,991 shares in the company, valued at $74,982,864.96. The trade was a 1.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Lin sold 10,773 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was 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 of the company’s stock, valued at approximately $222,862.50. This trade represents a 80.88% 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. Insiders sold a total of 48,031 shares of company stock worth $4,004,227 in the last three months. 9.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Tarsus Pharmaceuticals during the second quarter valued at $242,705,000. Jupiter Topco LLC purchased a new stake in Tarsus Pharmaceuticals in the second quarter worth about $176,834,000. Janus Henderson Group PLC lifted 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 acquiring an additional 310,638 shares during the period. Assenagon Asset Management S.A. grew its holdings in Tarsus Pharmaceuticals by 13.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,280,194 shares of the company’s stock worth $89,806,000 after acquiring an additional 152,464 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock worth $83,786,000 after acquiring an additional 436,271 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.