Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Up 7.2%

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARSGet Rating) were up 7.2% during mid-day trading on Thursday . The company traded as high as $14.89 and last traded at $14.81. Approximately 190,461 shares traded hands during mid-day trading, an increase of 50% from the average daily volume of 126,901 shares. The stock had previously closed at $13.81.

A number of equities research analysts have issued reports on TARS shares. Oppenheimer increased their price target on Tarsus Pharmaceuticals from $55.00 to $66.00 in a research report on Monday, May 2nd. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Tarsus Pharmaceuticals in a research report on Tuesday, May 3rd.

The stock has a market cap of $306.97 million, a price-to-earnings ratio of -6.82 and a beta of 1.53. The stock’s 50 day moving average is $14.49 and its two-hundred day moving average is $17.94. The company has a current ratio of 14.18, a quick ratio of 14.18 and a debt-to-equity ratio of 0.13.

Tarsus Pharmaceuticals (NASDAQ:TARSGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $5.50 million. Tarsus Pharmaceuticals had a negative return on equity of 25.85% and a negative net margin of 184.14%. On average, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.37 EPS for the current year.

In other Tarsus Pharmaceuticals news, major shareholder Vivo Capital Ix, Llc sold 41,800 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $15.19, for a total transaction of $634,942.00. Following the completion of the transaction, the insider now directly owns 2,945,531 shares in the company, valued at approximately $44,742,615.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Ackermann bought 100,000 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were acquired at an average price of $13.50 per share, with a total value of $1,350,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $1,350,000. The disclosure for this purchase can be found here. 33.08% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG boosted its position in shares of Tarsus Pharmaceuticals by 37.0% in the first quarter. UBS Group AG now owns 4,226 shares of the company’s stock worth $71,000 after acquiring an additional 1,142 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tarsus Pharmaceuticals by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 48,583 shares of the company’s stock valued at $818,000 after buying an additional 1,402 shares in the last quarter. State Street Corp grew its stake in Tarsus Pharmaceuticals by 2.4% during the first quarter. State Street Corp now owns 132,883 shares of the company’s stock worth $2,235,000 after buying an additional 3,141 shares during the period. Invesco Ltd. increased its position in shares of Tarsus Pharmaceuticals by 17.1% in the first quarter. Invesco Ltd. now owns 27,982 shares of the company’s stock worth $471,000 after acquiring an additional 4,078 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Tarsus Pharmaceuticals by 1.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 660,800 shares of the company’s stock valued at $14,868,000 after purchasing an additional 10,020 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Tarsus Pharmaceuticals Company Profile (NASDAQ:TARS)

Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

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