Tarsus Pharmaceuticals chief commercial officer sells $505,856 in stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Chief Commercial Officer Aziz Mottiwala recently sold shares of the company’s stock, according to a recent SEC filing. Over three days, Mottiwala sold a total of 10,565 shares, generating approximately $505,856 in proceeds. The transactions occurred between March 18 and March 20, with shares selling at prices ranging from $46.29 to $50.11. The sales come amid a strong performance period for Tarsus, with InvestingPro data showing the stock has gained over 44% in the past six months, now commanding a market capitalization of $1.9 billion.

Following these transactions, Mottiwala holds 65,057 shares of Tarsus Pharmaceuticals. It’s important to note that these sales were conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units, as per the company’s policy, and were not discretionary sales by Mottiwala. According to InvestingPro analysis, analysts maintain a strong bullish consensus on TARS, with price targets ranging from $45 to $85 per share. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the detailed Pro Research Report.

In other recent news, Tarsus Pharmaceuticals completed a significant stock offering, raising approximately $134.8 million. This capital infusion is expected to support the company’s ongoing research and development efforts. Additionally, Tarsus launched another public offering aiming to raise $100 million, with Goldman Sachs and other financial institutions managing the process. In terms of analyst perspectives, Jefferies raised Tarsus’s price target to $58, maintaining a Buy rating, citing the company’s strong financial performance and potential for substantial revenue growth. Guggenheim also increased their price target to $78 following impressive sales figures for Xdemvy, which exceeded expectations. H.C. Wainwright reaffirmed a Buy rating and a $73 price target, despite some investor concerns over increased spending. They expressed confidence in Tarsus’s long-term revenue outlook, particularly for XDEMVY. These developments highlight ongoing investor interest and positive analyst sentiment towards Tarsus Pharmaceuticals.

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