New York State Common Retirement Fund Reduces Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

New York State Common Retirement Fund reduced its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,004 shares of the company’s stock after selling 1,600 shares during the period. New York State Common Retirement Fund owned about 0.11% of Tarsus Pharmaceuticals worth $2,381,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV purchased a new position in Tarsus Pharmaceuticals in the 4th quarter valued at approximately $332,000. Rhumbline Advisers grew its holdings in Tarsus Pharmaceuticals by 2.1% during the 4th quarter. Rhumbline Advisers now owns 49,534 shares of the company’s stock valued at $2,743,000 after buying an additional 1,019 shares during the last quarter. Legato Capital Management LLC grew its holdings in Tarsus Pharmaceuticals by 3.4% during the 4th quarter. Legato Capital Management LLC now owns 45,656 shares of the company’s stock valued at $2,528,000 after buying an additional 1,496 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter valued at $323,000. Finally, Jennison Associates LLC grew its holdings in Tarsus Pharmaceuticals by 14.8% during the 4th 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 last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TARS shares. Guggenheim reiterated a “buy” rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Barclays lowered their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer increased their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $61.33.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $44.48 on Friday. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The stock’s fifty day simple moving average is $50.97 and its 200-day simple moving average is $43.25. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.67 and a beta of 1.01.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share 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 firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Tarsus Pharmaceuticals Company Profile

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.