Allspring Global Investments Holdings LLC Sells 12,401 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Allspring Global Investments Holdings LLC lessened its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,721 shares of the company’s stock after selling 12,401 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.44% of Tarsus Pharmaceuticals worth $8,667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its holdings in Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock valued at $213,000 after buying an additional 244 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its holdings in Tarsus Pharmaceuticals by 7.2% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company’s stock valued at $364,000 after buying an additional 443 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Tarsus Pharmaceuticals during the 4th quarter valued at about $25,000. Bank of New York Mellon Corp lifted its holdings in Tarsus Pharmaceuticals by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock valued at $5,644,000 after buying an additional 498 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Tarsus Pharmaceuticals by 1.2% during the 4th quarter. Swiss National Bank now owns 52,333 shares of the company’s stock valued at $2,898,000 after buying an additional 600 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Up 1.6%

Shares of Tarsus Pharmaceuticals stock opened at $41.08 on Friday. The firm’s 50 day moving average price is $43.34 and its 200-day moving average price is $47.51. The company has a quick ratio of 5.54, a current ratio of 5.57 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company has a market cap of $1.73 billion, a P/E ratio of -15.05 and a beta of 0.80.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 44.91% and a negative return on equity of 39.72%. The firm had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. On average, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an “outperform” rating and a $75.00 price objective for the company. Guggenheim lifted their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group raised their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.