Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 2.9% – Should You Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares traded down 2.9% during trading on Monday . The company traded as low as $48.74 and last traded at $48.52. 93,823 shares traded hands 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TARS shares. Jefferies Financial Group increased their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. HC Wainwright reissued a “buy” rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a research 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. Guggenheim reiterated a “buy” rating and set a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, Barclays cut their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $63.67.

Tarsus Pharmaceuticals Stock Down 2.0 %

The company has a market cap of $1.97 billion, a P/E ratio of -13.47 and a beta of 1.05. The company’s 50-day moving average is $48.73 and its two-hundred day moving average is $45.78. 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) last posted its earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.08. The business 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, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Bryan Wahl sold 3,341 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $154,654.89. Following the completion of the sale, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dianne C. Whitfield sold 2,137 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 $107,085.07. Following the transaction, the insider now owns 46,355 shares in the company, valued at approximately $2,322,849.05. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,542 shares of company stock valued at $1,281,173. 8.25% of the stock is owned by insiders.

Institutional Trading of Tarsus Pharmaceuticals

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Tarsus Pharmaceuticals by 2,088.8% in 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 last quarter. Vestal Point Capital LP purchased a new position in shares of Tarsus Pharmaceuticals in the third quarter worth approximately $7,565,000. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 14.8% during the fourth 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 during the period. Verition Fund Management LLC bought a new position in Tarsus Pharmaceuticals in the third quarter worth approximately $763,000. Finally, Barclays PLC increased its stake in shares of Tarsus Pharmaceuticals by 345.9% in the 3rd quarter. Barclays PLC now owns 98,663 shares of the company’s stock worth $3,246,000 after purchasing an additional 76,538 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.