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

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

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $37.87 on Thursday. The stock has a market cap of $1.25 billion, a P/E ratio of -9.91 and a beta of 0.93. Tarsus Pharmaceuticals has a one year low of $11.33 and a one year high of $40.40. The company has a fifty day moving average price of $25.99 and a 200 day moving average price of $19.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.15 and a quick ratio of 11.15.

Analysts Set New Price Targets

Several research firms have commented on TARS. Barclays boosted their target price on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday. Lifesci Capital reissued an “outperform” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, December 26th. The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price objective (up from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday. Finally, HC Wainwright upped their price objective on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Check Out Our Latest Analysis on Tarsus Pharmaceuticals

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 40,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $20.27, for a total transaction of $810,800.00. Following the completion of the transaction, the chief executive officer now directly owns 838,106 shares in the company, valued at approximately $16,988,408.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jose M. Trevejo sold 2,252 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were 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 in the company, valued at approximately $45,020. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 40,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $20.27, for a total transaction of $810,800.00. Following the transaction, the chief executive officer now 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 worth $1,017,600 in the last ninety days. 11.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Tarsus Pharmaceuticals by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 139,151 shares of the company’s stock valued at $1,749,000 after buying an additional 600 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Tarsus Pharmaceuticals by 3.3% in the 1st quarter. Rhumbline Advisers now owns 28,518 shares of the company’s stock valued at $358,000 after buying an additional 924 shares in the last quarter. UBS Group AG raised its stake in shares of Tarsus Pharmaceuticals by 37.0% in the 1st quarter. UBS Group AG now owns 4,226 shares of the company’s stock valued at $71,000 after buying an additional 1,142 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tarsus Pharmaceuticals by 13.0% in the 4th quarter. JPMorgan Chase & Co. now owns 11,351 shares of the company’s stock valued at $167,000 after buying an additional 1,309 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Tarsus Pharmaceuticals by 122.0% in the 2nd quarter. Royal Bank of Canada now owns 2,817 shares of the company’s stock valued at $50,000 after buying an additional 1,548 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors and hedge funds.

About Tarsus Pharmaceuticals

(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.

See Also

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.