Tarsus Pharmaceuticals (NASDAQ:TARS) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Tarsus Pharmaceuticals (NASDAQ:TARS) released its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05, Zacks reports. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%.

Tarsus Pharmaceuticals Stock Up 2.5%

Shares of NASDAQ TARS traded up $1.71 during trading on Tuesday, hitting $71.50. The stock had a trading volume of 825,138 shares, compared to its average volume of 657,182. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. The firm has a fifty day moving average of $61.91 and a two-hundred day moving average of $50.70. Tarsus Pharmaceuticals has a 12 month low of $38.51 and a 12 month high of $76.81. The company has a market capitalization of $3.02 billion, a PE ratio of -30.69 and a beta of 0.81.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Wednesday, October 8th. Zacks Research upgraded Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, HC Wainwright lifted their price target on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.33.

Insider Activity

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 27,116 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the sale, the director directly owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. This represents a 15.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the sale, the chief executive officer directly owned 812,106 shares of the company’s stock, valued at $44,966,309.22. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,116 shares of company stock worth $2,177,832. 8.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its holdings in Tarsus Pharmaceuticals by 779.1% during the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock worth $113,000 after buying an additional 2,462 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tarsus Pharmaceuticals by 220.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock valued at $164,000 after acquiring an additional 2,782 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Tarsus Pharmaceuticals by 21.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,500 shares of the company’s stock valued at $344,000 after acquiring an additional 1,500 shares during the period. Walleye Capital LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $402,000. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of Tarsus Pharmaceuticals by 127.7% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 11,905 shares of the company’s stock worth $482,000 after purchasing an additional 6,677 shares during the period. Institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.