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Bobak Azamian, the President, CEO, and Board Chair of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), recently sold shares of the company’s stock valued at approximately $1.16 million. The transactions, which took place over three days from March 18 to March 20, involved the sale of 24,216 shares at prices ranging from $46.29 to $50.11 per share. The sales come amid a strong performance period for Tarsus, with the stock up nearly 45% over the past six months and currently trading at $49.91.
These sales were executed to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units, as mandated by Tarsus Pharmaceuticals’ policy. Following these transactions, Azamian holds 53,635 shares directly and an additional 830,106 shares indirectly through the Bobak Azamian Living Trust. According to InvestingPro data, analysts maintain a bullish outlook on TARS, with price targets ranging from $45 to $85 per share.
The sales were not discretionary decisions by Azamian but were required under the company’s election to satisfy tax obligations through a "sell to cover" transaction. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights and 8 more ProTips available to subscribers.
In other recent news, Tarsus Pharmaceuticals completed a substantial stock offering, raising approximately $134.8 million in net proceeds. This capital injection is intended to support the company’s research and development efforts, as well as general corporate purposes. In a separate announcement, Tarsus launched another public offering of $100 million, with underwriters given an option to purchase additional shares worth $15 million, although the final terms are yet to be determined. Analysts from Jefferies have raised Tarsus’s stock target to $58, maintaining a Buy rating, citing the company’s strong financial performance and potential for significant revenue growth. Similarly, Guggenheim increased the price target to $78, following Tarsus’s impressive sales figures, particularly for its product Xdemvy, which exceeded expectations.
H.C. Wainwright also kept a Buy rating, with a price target of $73, despite some investor concerns over increased marketing and R&D expenses. The firm expressed confidence in Tarsus’s long-term revenue outlook, noting its strong growth potential and market position. These developments reflect a positive outlook from multiple analyst firms, highlighting Tarsus Pharmaceuticals’ strategic initiatives and anticipated growth trajectory. Investors are keeping a close watch on the company’s progress as it continues to make strides in its financial and operational goals.
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