Protara Therapeutics, Inc. (NASDAQ:TARA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Protara Therapeutics has a “Moderate Buy” consensus rating from eight analysts, with seven buys and one sell. The average 12-month price target is $26.25.
• TARA shares opened at $3.68 and have traded between $3.45 and $7.82 over the past year; the company has a market capitalization of approximately $217.5 million.
• Protara reported quarterly EPS of -$0.36, missing the consensus estimate of -$0.33, while institutional investors and hedge funds own 38.13% of the stock.

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.25.

A number of research analysts have issued reports on TARA shares. Weiss Ratings restated a "sell (d-)" rating on shares of Protara Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Protara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th.

Protara Therapeutics Stock Up 4.8%

TARA stock opened at $3.68 on Wednesday. The company has a market cap of $217.49 million, a P/E ratio of -2.73 and a beta of 1.49. Protara Therapeutics has a twelve month low of $3.45 and a twelve month high of $7.82. The business has a fifty day moving average of $3.92 and a 200-day moving average of $4.49.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.03). As a group, equities research analysts anticipate that Protara Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Protara Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Protara Therapeutics by 133.9% during the first quarter. Dimensional Fund Advisors LP now owns 531,267 shares of the company's stock worth $2,767,000 after purchasing an additional 304,110 shares during the period. AIGH Capital Management LLC acquired a new position in Protara Therapeutics in the first quarter valued at about $8,454,000. Bank of America Corp DE lifted its stake in Protara Therapeutics by 86.7% in the first quarter. Bank of America Corp DE now owns 925,918 shares of the company's stock valued at $4,824,000 after buying an additional 430,014 shares during the period. Walleye Capital LLC boosted its holdings in Protara Therapeutics by 204.0% during the first quarter. Walleye Capital LLC now owns 443,401 shares of the company's stock worth $2,310,000 after buying an additional 297,525 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Protara Therapeutics during the second quarter worth about $526,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Protara Therapeutics Company Profile

Protara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for cancer and rare diseases. The company's research programs are designed to address conditions with significant unmet medical needs, including certain solid tumors and lymphatic disorders.

Protara's lead product candidate is TARA-002, an investigational cell-based therapy derived from a proprietary preparation of inactivated Streptococcus pyogenes. The company is evaluating TARA-002 in non-muscle-invasive bladder cancer and lymphatic malformations, a rare condition involving abnormal growth of lymphatic vessels.

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