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IRVINE, CA—Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), a $1.9 billion market cap biopharmaceutical company whose shares have surged 44% over the past six months, reported that General Counsel Bryan Wahl recently sold company shares totaling $463,765, according to a filing with the Securities and Exchange Commission. The transactions, which took place over three consecutive days, involved the sale of common stock at prices ranging from $46.29 to $50.11 per share. InvestingPro data shows analyst price targets ranging from $45 to $85, suggesting potential upside from current levels.
The sales occurred on March 18, 19, and 20, with 3,341 shares sold at $46.29, 3,261 shares at $47.40, and 3,084 shares at $50.11, respectively. Following these transactions, Wahl holds 51,712 shares of Tarsus Pharmaceuticals. The company maintains a strong liquidity position with a current ratio of 4.42, indicating robust short-term financial health.
These transactions were part of a "sell to cover" arrangement, where shares are sold to cover tax withholding obligations related to the vesting and settlement of restricted stock units. This type of sale is mandated by the company’s policy and does not represent a discretionary action by Wahl. For deeper insights into insider transactions and comprehensive financial analysis, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Tarsus Pharmaceuticals has completed a $134.8 million stock offering, selling 3,230,336 shares of common stock. The transaction was fully subscribed, with underwriters exercising their option to purchase additional shares, and was led by firms such as Goldman Sachs & Co. LLC, BofA Securities, Inc., and Barclays (LON:BARC) Capital Inc. In another development, Tarsus Pharmaceuticals announced the launch of a $100 million stock offering, with a provision 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 while maintaining a Buy rating, citing the company’s strong financial performance and anticipation of significant revenue growth. Similarly, Guggenheim has increased its price target to $78, following Tarsus’s solid fourth-quarter results, which included Xdemvy sales surpassing expectations. H.C. Wainwright has reaffirmed a Buy rating with a $73 price target, expressing confidence despite recent stock declines and highlighting increased revenue projections for XDEMVY.
These developments indicate a strong interest from the investment community and a positive outlook from analysts for Tarsus Pharmaceuticals’ future financial performance.
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