Tarsus Pharmaceuticals (NASDAQ:TARS) Posts Earnings Results, Beats Estimates By $0.06 EPS

Tarsus Pharmaceuticals (NASDAQ:TARSGet Free Report) announced its quarterly earnings results on Tuesday. The company reported ($1.31) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.06, MarketWatch Earnings reports. The company had revenue of $13.08 million during the quarter, compared to analysts’ expectations of $4.63 million. During the same period last year, the firm earned ($0.49) earnings per share.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $0.68 during mid-day trading on Thursday, reaching $37.19. The company’s stock had a trading volume of 68,155 shares, compared to its average volume of 816,191. The firm has a market capitalization of $1.23 billion, a PE ratio of -9.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.15 and a quick ratio of 11.15. The stock has a fifty day moving average of $25.99 and a two-hundred day moving average of $19.80. Tarsus Pharmaceuticals has a 52 week low of $11.33 and a 52 week high of $40.40.

Insider Transactions at Tarsus Pharmaceuticals

In other news, insider Jose M. Trevejo sold 2,252 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $20.00, for a total value of $45,040.00. Following the completion of the transaction, the insider now owns 2,251 shares of the company’s stock, valued at $45,020. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Jose M. Trevejo sold 2,252 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $20.00, for a total transaction of $45,040.00. Following the completion of the transaction, the insider now directly owns 2,251 shares of the company’s stock, valued at $45,020. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bobak R. Azamian sold 40,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $20.27, for a total value of $810,800.00. Following the transaction, the chief executive officer now directly owns 838,106 shares of the company’s stock, valued at $16,988,408.62. The disclosure for this sale can be found here. Insiders sold a total of 50,252 shares of company stock valued at $1,017,600 over the last 90 days. Company insiders own 11.54% of the company’s stock.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors have recently modified their holdings of TARS. BlackRock Inc. lifted its stake in shares of Tarsus Pharmaceuticals by 51.0% in the 2nd quarter. BlackRock Inc. now owns 2,199,753 shares of the company’s stock valued at $39,750,000 after purchasing an additional 742,493 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tarsus Pharmaceuticals by 42.7% in the third quarter. Vanguard Group Inc. now owns 935,649 shares of the company’s stock worth $16,018,000 after buying an additional 279,826 shares during the period. Nantahala Capital Management LLC raised its holdings in shares of Tarsus Pharmaceuticals by 177.0% in the fourth quarter. Nantahala Capital Management LLC now owns 375,276 shares of the company’s stock worth $7,599,000 after buying an additional 239,776 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Tarsus Pharmaceuticals in the second quarter worth approximately $2,524,000. Finally, Norges Bank purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter worth approximately $3,242,000. 70.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

TARS has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price target on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $59.00 price objective (up previously from $55.00) on shares of Tarsus Pharmaceuticals in a research report on Wednesday. HC Wainwright upped their price objective on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays upped their price objective on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Lifesci Capital reiterated an “outperform” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, December 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Check Out Our Latest Stock Analysis on TARS

Tarsus Pharmaceuticals Company Profile

(Get Free Report)

Tarsus Pharmaceuticals, Inc, a 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 for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

Read More

Earnings History for Tarsus Pharmaceuticals (NASDAQ:TARS)

Receive News & Ratings for Tarsus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tarsus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.