Raymond James Financial Inc. Makes New $1.11 Million Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Raymond James Financial Inc. purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,999 shares of the company's stock, valued at approximately $1,107,000. Raymond James Financial Inc. owned approximately 0.05% of Tarsus Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TARS. Jennison Associates LLC raised its holdings 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 valued at $138,432,000 after buying an additional 321,552 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company's stock worth $63,499,000 after purchasing an additional 5,565 shares during the last quarter. Geode Capital Management LLC raised its position in Tarsus Pharmaceuticals by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company's stock valued at $27,494,000 after purchasing an additional 62,555 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock worth $19,565,000 after buying an additional 131,636 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after buying an additional 420,057 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, insider Dianne C. Whitfield sold 2,315 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $107,161.35. Following the transaction, the insider now owns 50,751 shares in the company, valued at $2,349,263.79. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Bryan Wahl sold 3,084 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the completion of the transaction, the general counsel now directly owns 51,712 shares in the company, valued at approximately $2,591,288.32. This represents a 5.63 % 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 worth $1,581,173 in the last three months. 8.25% of the stock is currently owned by company insiders.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock traded down $2.86 during midday trading on Tuesday, reaching $44.63. 686,600 shares of the company traded hands, compared to its average volume of 680,170. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The business has a 50 day moving average of $48.80 and a two-hundred day moving average of $46.96. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.71 and a beta of 0.94.

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

Tarsus Pharmaceuticals 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.