Tarsus Pharmaceuticals (NASDAQ:TARS) Given New $98.00 Price Target at Mizuho

Tarsus Pharmaceuticals (NASDAQ:TARS) had its price target trimmed by Mizuho from $100.00 to $98.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on TARS. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Guggenheim lowered 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. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Tarsus Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ:TARS opened at $59.04 on Friday. Tarsus Pharmaceuticals has a 12-month low of $38.51 and a 12-month high of $85.25. The business’s fifty day simple moving average is $61.17 and its 200-day simple moving average is $65.34. The company has a market capitalization of $2.54 billion, a PE ratio of -51.79 and a beta of 0.50. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The firm had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. As a group, equities research analysts predict that Tarsus Pharmaceuticals will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares in the company, valued at $52,193,846.05. The trade was a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

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