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Jeffrey Farrow, the Chief Financial Officer and Chief Strategy Officer of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), recently sold company stock valued at $178,306. The transactions, conducted over three consecutive days, involved the sale of 3,724 shares at prices ranging from $46.29 to $50.11 per share. The sales come amid a strong performance period for TARS, with the stock up nearly 45% over the past six months and trading near $50, with analyst price targets ranging from $45 to $85.
The sales were executed to cover tax withholding obligations tied to the vesting and settlement of Restricted Stock Units, as mandated by Tarsus Pharmaceuticals’ policy. Following these transactions, Farrow retains ownership of 22,431 shares in the company, which currently has a market capitalization of $1.9 billion. InvestingPro analysis reveals 8 additional key insights about TARS’s financial health and growth prospects, available to subscribers.
In other recent news, Tarsus Pharmaceuticals has completed a significant stock offering, raising approximately $134.8 million in net proceeds. This stock sale, fully subscribed and led by Goldman Sachs, BofA Securities, and Barclays (LON:BARC), is expected to bolster the company’s financial position as it advances its research and development efforts. Additionally, Tarsus Pharmaceuticals launched another public offering of $100 million, with a provision for underwriters to purchase up to an additional $15 million in shares, subject to market conditions.
Jefferies analyst Anthony Petrone recently raised Tarsus Pharmaceuticals’ stock price target to $58, maintaining a Buy rating, citing the company’s strong financial performance and potential for substantial revenue growth. Guggenheim also increased its price target for Tarsus to $78, following robust sales of Xdemvy, which exceeded expectations. The company reported Xdemvy sales of $66.4 million for the fourth quarter, contributing to a full-year total of $180 million.
H.C. Wainwright reaffirmed a Buy rating with a $73 price target, despite a recent decline in the stock price. They addressed investor concerns related to increased marketing spending and research and development expenses but expressed confidence in Tarsus Pharmaceuticals’ future prospects. These developments highlight a period of active financial and strategic maneuvers for Tarsus Pharmaceuticals as it continues to navigate the biopharmaceutical sector.
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