Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 7.2% - Time to Sell?

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) fell 7.2% during trading on Wednesday . The company traded as low as $41.52 and last traded at $41.41. 83,789 shares were traded during mid-day trading, a decline of 87% from the average session volume of 662,585 shares. The stock had previously closed at $44.63.

Analysts Set New Price Targets

A number of research firms have weighed in on TARS. Jefferies Financial Group raised their target price 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. HC Wainwright reiterated a "buy" rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals 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 report on Monday, February 24th. Oppenheimer lifted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Finally, Barclays lowered their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $63.67.

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Tarsus Pharmaceuticals Trading Up 4.9 %

The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -12.79 and a beta of 0.94. 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 company has a 50 day moving average price of $48.17 and a 200 day moving average price of $47.32.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $66.41 million for the quarter, compared to analysts' expectations of $58.80 million. On average, research analysts expect 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 8,534 shares of the business'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 $427,638.74. Following the sale, the chief executive officer now owns 53,635 shares in the company, valued at approximately $2,687,649.85. The trade was a 13.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne C. Whitfield sold 2,315 shares of the firm'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 $107,161.35. Following the transaction, the insider now owns 50,751 shares of the company's stock, valued at $2,349,263.79. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,542 shares of company stock valued at $1,581,173. Company insiders own 8.25% of the company's stock.

Institutional Trading of Tarsus Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of TARS. FMR LLC grew its holdings in shares of Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company's stock valued at $166,000 after purchasing an additional 3,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tarsus Pharmaceuticals by 10.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,835 shares of the company's stock worth $1,935,000 after acquiring an additional 5,709 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tarsus Pharmaceuticals by 14.2% during the third quarter. Wellington Management Group LLP now owns 145,347 shares of the company's stock worth $4,780,000 after acquiring an additional 18,019 shares during the period. Barclays PLC increased its position in shares of 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 acquiring an additional 76,538 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company's stock valued at $27,494,000 after acquiring an additional 62,555 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other 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.