Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Acquired by Invesco Ltd.

Invesco Ltd. raised its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 932,115 shares of the company's stock after purchasing an additional 250,018 shares during the quarter. Invesco Ltd. owned about 2.44% of Tarsus Pharmaceuticals worth $51,611,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at about $25,000. R Squared Ltd purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $53,000. HighTower Advisors LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $207,000. Victory Capital Management Inc. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at approximately $223,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth $227,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TARS shares. Jefferies Financial Group upped 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. Guggenheim reissued a "buy" rating and issued a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report 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. Barclays reduced their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $63.67.

Tarsus Pharmaceuticals Price Performance

TARS stock traded down $0.12 during midday trading on Monday, hitting $49.13. 57,314 shares of the stock were exchanged, compared to its average volume of 680,811. The stock's 50-day moving average price is $47.76 and its 200-day moving average price is $47.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -12.89 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.

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

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 7,131 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $330,093.99. Following the transaction, the chief executive officer now directly owns 70,720 shares of the company's stock, valued at approximately $3,273,628.80. The trade was a 9.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan Wahl sold 3,084 shares of the 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 $154,539.24. Following the completion of the sale, the general counsel now directly owns 51,712 shares of the company's stock, valued at $2,591,288.32. This trade represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is owned by company insiders.

About Tarsus Pharmaceuticals

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.