Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up – What’s Next?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $69.59, but opened at $74.55. Tarsus Pharmaceuticals shares last traded at $77.3650, with a volume of 390,998 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays began coverage on Tarsus Pharmaceuticals in a report on Monday, December 8th. They set an “overweight” rating and a $100.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, February 5th. Finally, Zacks Research upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $82.29.

Tarsus Pharmaceuticals Trading Up 7.4%

The business has a 50-day moving average of $72.32 and a 200-day moving average of $68.16. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -37.42, a PEG ratio of 0.96 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. As a group, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $82.51, for a total value of $495,060.00. Following the completion of the sale, the chief executive officer directly owned 857,991 shares of the company’s stock, valued at approximately $70,792,837.41. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 7,397 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the transaction, the insider directly owned 38,958 shares in the company, valued at approximately $3,120,535.80. This represents a 15.96% decrease in their position. The SEC filing for this sale provides additional information. 8.97% of the stock is owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TARS. Invesco Ltd. grew its stake in shares of Tarsus Pharmaceuticals by 8.0% in the 4th quarter. Invesco Ltd. now owns 1,012,357 shares of the company’s stock valued at $82,892,000 after purchasing an additional 75,351 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $202,000. XTX Topco Ltd grew its position in Tarsus Pharmaceuticals by 270.3% in the 4th quarter. XTX Topco Ltd now owns 18,410 shares of the company’s stock valued at $1,507,000 after buying an additional 13,438 shares during the last quarter. Squadron Capital Management LLC acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at $6,550,000. Finally, Tudor Investment Corp ET AL purchased a new position in Tarsus Pharmaceuticals during the 4th quarter worth $1,859,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

About Tarsus Pharmaceuticals

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.