Federated Hermes Inc. Acquires New Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Federated Hermes Inc. purchased a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,714 shares of the company's stock, valued at approximately $4,303,000. Federated Hermes Inc. owned about 0.20% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock valued at $14,477,000 after purchasing an additional 420,057 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after acquiring an additional 321,552 shares during the period. Atika Capital Management LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $9,812,000. Lord Abbett & CO. LLC raised its stake in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock valued at $19,565,000 after acquiring an additional 131,636 shares during the period. Finally, Barclays PLC lifted its holdings in Tarsus Pharmaceuticals by 345.9% during the 3rd quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after purchasing an additional 76,538 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TARS. Oppenheimer lifted their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Jefferies Financial Group boosted their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays cut their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Buy" and an average price target of $63.67.

Tarsus Pharmaceuticals Stock Up 0.8 %

NASDAQ TARS traded up $0.40 on Tuesday, hitting $49.12. 369,827 shares of the company were exchanged, compared to its average volume of 681,783. The stock has a fifty day moving average of $47.92 and a 200-day moving average of $47.44. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The company has a market cap of $1.89 billion, a PE ratio of -12.89 and a beta of 0.94. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. As a group, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 8,534 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $427,638.74. Following the completion of the sale, the chief executive officer now owns 53,635 shares in the company, valued at $2,687,649.85. This trade represents a 13.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bryan Wahl sold 3,084 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $154,539.24. Following the transaction, the general counsel now directly owns 51,712 shares in the company, valued at $2,591,288.32. This represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock worth $1,581,173 over the last 90 days. 8.25% of the stock is currently owned by corporate insiders.

Tarsus Pharmaceuticals Company Profile

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.