Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 2.9% - Time to Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) fell 2.9% during mid-day trading on Monday . The company traded as low as $48.74 and last traded at $48.52. 93,823 shares were traded during mid-day trading, a decline of 85% from the average session volume of 643,786 shares. The stock had previously closed at $49.97.

Analyst Ratings Changes

TARS has been the subject of several analyst reports. Barclays decreased their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Jefferies Financial Group increased their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Oppenheimer boosted their target price 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $63.67.

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Tarsus Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.98 billion, a P/E ratio of -13.53 and a beta of 1.05. The stock's 50-day simple moving average is $48.89 and its 200 day simple moving average is $45.85. 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 issued its quarterly earnings data 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. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. Research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 7,131 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $330,093.99. Following the transaction, the chief executive officer now directly owns 70,720 shares in the company, valued at approximately $3,273,628.80. This represents a 9.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of Tarsus Pharmaceuticals stock in a transaction dated Thursday, March 20th. The stock was 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 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. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 in the last ninety days. 8.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Tarsus Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after purchasing an additional 420,057 shares during the period. Vestal Point Capital LP bought a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter worth approximately $7,565,000. Jennison Associates LLC boosted its position 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 in the last quarter. Verition Fund Management LLC acquired a new position in Tarsus Pharmaceuticals during the third quarter valued at approximately $763,000. Finally, Barclays PLC lifted its stake in Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company's stock worth $3,246,000 after purchasing an additional 76,538 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.