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IRVINE, CA—Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), a $1.9 billion biopharmaceutical company trading near its InvestingPro Fair Value, saw its Chief Operating Officer Neervannan Seshadri recently execute a series of stock sales, totaling $363,141, to cover tax obligations related to the vesting of Restricted Stock Units. The transactions, which took place over three consecutive days, involved selling a total of 7,583 shares of common stock.
On March 18, Seshadri sold 2,605 shares at a price of $46.29 each. The following day, an additional 2,543 shares were sold at $47.40 per share. The final transaction on March 20 involved the sale of 2,435 shares at $50.11 per share. These sales were mandated by Tarsus Pharmaceuticals to satisfy tax withholding obligations and were not discretionary actions by Seshadri.
Following these transactions, Seshadri retains ownership of 79,682 shares in the company. With a strong current ratio of 4.42 and analysts setting price targets up to $85, detailed financial analysis and additional insights are available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, Tarsus Pharmaceuticals has completed a significant stock offering, raising approximately $134.8 million in net proceeds. This offering, which involved the sale of 3,230,336 shares at a public price of $44.50 per share, was fully subscribed, with Goldman Sachs, BofA Securities, and Barclays (LON:BARC) Capital leading the underwriting syndicate. The proceeds are intended to support the company’s research and development pipeline and general corporate purposes. Additionally, Tarsus has launched another public offering of $100 million, with an option for underwriters to purchase an additional $15 million in shares, subject to market conditions.
Jefferies has raised its price target for Tarsus Pharmaceuticals to $58, maintaining a Buy rating, citing the company’s strong financial performance and anticipated revenue growth. Guggenheim also increased its price target to $78, following impressive fourth-quarter sales of Xdemvy, which exceeded expectations. The firm noted the positive impact of Tarsus’s direct-to-consumer campaign and expanded sales force.
Meanwhile, H.C. Wainwright has reaffirmed a Buy rating with a $73 price target, expressing confidence in Tarsus’s long-term prospects despite a recent stock decline. The analysts highlighted increased revenue projections for XDEMVY and emphasized the company’s attractive growth profile and intellectual property protection. These developments reflect ongoing investor interest and confidence in Tarsus Pharmaceuticals’ strategic direction.
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