Invesco Ltd. Has $51.61 Million Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Invesco Ltd. raised its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 36.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 932,115 shares of the company’s stock after purchasing an additional 250,018 shares during the quarter. Invesco Ltd.’s holdings in Tarsus Pharmaceuticals were worth $51,611,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FMR LLC increased its stake in Tarsus Pharmaceuticals by 236.6% during the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after acquiring an additional 3,537 shares during the period. Wellington Management Group LLP grew its holdings in shares of Tarsus Pharmaceuticals by 14.2% during the 3rd quarter. Wellington Management Group LLP now owns 145,347 shares of the company’s stock worth $4,780,000 after purchasing an additional 18,019 shares in the last quarter. Barclays PLC increased its position in shares of Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after purchasing an additional 76,538 shares during the period. Geode Capital Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company’s stock valued at $27,494,000 after purchasing an additional 62,555 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Tarsus Pharmaceuticals by 9.3% in the third quarter. Franklin Resources Inc. now owns 12,164 shares of the company’s stock worth $444,000 after purchasing an additional 1,033 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Up 0.8 %

Shares of TARS opened at $49.12 on Wednesday. The business’s 50 day simple moving average is $47.92 and its 200-day simple moving average is $47.44. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28. The company has a market capitalization of $1.89 billion, a P/E ratio of -12.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate 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 company had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group upped their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Finally, Barclays cut their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $63.67.

Insiders Place Their Bets

In other news, insider Dianne C. Whitfield sold 2,137 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now owns 46,355 shares in the company, valued at $2,322,849.05. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $154,539.24. Following the completion of the transaction, the general counsel now owns 51,712 shares in the company, valued at approximately $2,591,288.32. This represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 in the last 90 days. 8.25% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals 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.