Essex Investment Management Co. LLC Sells 29,396 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Essex Investment Management Co. LLC lessened its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 26.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 79,760 shares of the company’s stock after selling 29,396 shares during the period. Essex Investment Management Co. LLC’s holdings in Tarsus Pharmaceuticals were worth $4,416,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Lisanti Capital Growth LLC bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth about $1,311,000. GSA Capital Partners LLP bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth about $740,000. Mutual of America Capital Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth about $4,291,000. Jennison Associates LLC boosted its stake in shares of Tarsus Pharmaceuticals by 47.2% in the third quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock worth $71,653,000 after acquiring an additional 698,712 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the third quarter worth about $282,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

TARS has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group boosted their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Guggenheim reiterated a “buy” rating and issued a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, Barclays decreased their target price on 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $63.67.

Tarsus Pharmaceuticals Trading Up 6.7 %

Shares of TARS stock opened at $46.47 on Friday. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock’s 50 day simple moving average is $49.97 and its two-hundred day simple moving average is $43.88. The company has a market cap of $1.78 billion, a PE ratio of -12.20 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million. Research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

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.