Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 44.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,468 shares of the company's stock after selling 5,125 shares during the quarter. LPL Financial LLC's holdings in Tarsus Pharmaceuticals were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company's stock valued at $5,644,000 after purchasing an additional 498 shares during the period. Swiss National Bank boosted its stake in Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company's stock worth $2,898,000 after buying an additional 600 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Tarsus Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company's stock worth $449,000 after buying an additional 789 shares during the period. R Squared Ltd purchased a new position in Tarsus Pharmaceuticals during the fourth quarter worth about $53,000. Finally, Rhumbline Advisers boosted its stake in Tarsus Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 49,534 shares of the company's stock worth $2,743,000 after buying an additional 1,019 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

TARS has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Jefferies Financial Group raised their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Guggenheim reiterated a "buy" rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Barclays decreased their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Buy" and an average price target of $63.67.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS traded down $0.28 during mid-day trading on Monday, hitting $49.72. 685,350 shares of the company's stock were exchanged, compared to its average volume of 689,959. The firm has a market capitalization of $1.91 billion, a P/E ratio of -13.05 and a beta of 0.94. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The business's 50 day moving average is $47.60 and its two-hundred day moving average is $48.53. 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, topping 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 firm had revenue of $66.41 million during the quarter, compared to analysts' expectations of $58.80 million. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 7,131 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $330,093.99. Following the sale, the chief executive officer now owns 70,720 shares in the company, valued at approximately $3,273,628.80. This trade represents a 9.16 % 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 this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the sale, the general counsel now directly owns 58,057 shares of the company's stock, valued at $2,687,458.53. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock valued at $1,581,173 in the last ninety days. Corporate insiders own 8.25% of the company's stock.

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.