Prudential Financial Inc. Grows Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Prudential Financial Inc. lifted its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 43.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,735 shares of the company's stock after purchasing an additional 45,240 shares during the quarter. Prudential Financial Inc. owned 0.39% of Tarsus Pharmaceuticals worth $8,235,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth $25,000. Bank of New York Mellon Corp boosted its stake in Tarsus Pharmaceuticals by 0.5% during the 4th 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 last quarter. Swiss National Bank increased its holdings in Tarsus Pharmaceuticals by 1.2% during the 4th quarter. Swiss National Bank now owns 52,333 shares of the company's stock worth $2,898,000 after purchasing an additional 600 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Tarsus Pharmaceuticals by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company's stock valued at $449,000 after acquiring an additional 789 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $53,000. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TARS has been the topic of several research reports. Oppenheimer lifted their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Barclays cut 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 report on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $63.67.

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Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS traded down $1.94 during mid-day trading on Thursday, reaching $49.55. 524,648 shares of the company traded hands, compared to its average volume of 678,933. The firm has a market cap of $1.90 billion, a PE ratio of -13.01 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28. The company's 50 day moving average price is $49.22 and its 200-day moving average price is $46.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.08. The business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,084 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 of the company's stock, valued at approximately $2,591,288.32. This represents a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne C. Whitfield sold 2,137 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $107,085.07. Following the transaction, the insider now directly owns 46,355 shares of the company's stock, valued at $2,322,849.05. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock worth $1,581,173 in the last 90 days. 8.25% of the stock is 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.