HC Wainwright Issues Pessimistic Outlook for TARA Earnings

Key Points

• HC Wainwright cut its FY2030 EPS forecast for Protara Therapeutics slightly, to $1.08 from $1.09; analysts’ consensus estimate for the current full year is a loss of $1.40 per share.
• Protara reported quarterly EPS of -$0.35, beating analysts’ estimate of -$0.37 by $0.02.
• Analyst views are mixed, but the overall consensus rating is “Moderate Buy”, with a consensus price target of $26.25; seven analysts rate the stock Buy and one rates it Sell.

Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) - Equities research analysts at HC Wainwright dropped their FY2030 earnings per share (EPS) estimates for shares of Protara Therapeutics in a research report issued on Monday, November 9th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings per share of $1.08 for the year, down from their prior estimate of $1.09. The consensus estimate for Protara Therapeutics' current full-year earnings is ($1.40) per share.

A number of other analysts have also commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Protara Therapeutics in a research report on Thursday, October 15th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Protara Therapeutics in a research report on Thursday, October 15th. Finally, Wall Street Zen raised shares of Protara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.25.

Protara Therapeutics Stock Up 9.1%

Shares of TARA opened at $2.51 on Tuesday. Protara Therapeutics has a twelve month low of $2.09 and a twelve month high of $7.82. The company has a 50 day moving average of $3.00 and a 200-day moving average of $4.47.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Protara Therapeutics by 22.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 13,548 shares of the company's stock valued at $71,000 after buying an additional 2,464 shares during the period. WINTON GROUP Ltd raised its position in shares of Protara Therapeutics by 16.7% in the 2nd quarter. WINTON GROUP Ltd now owns 32,800 shares of the company's stock valued at $125,000 after buying an additional 4,700 shares in the last quarter. Velan Capital Investment Management LP raised its position in shares of Protara Therapeutics by 0.4% in the 2nd quarter. Velan Capital Investment Management LP now owns 2,844,652 shares of the company's stock valued at $10,867,000 after buying an additional 10,000 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Protara Therapeutics during the 2nd quarter worth approximately $41,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Protara Therapeutics during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 38.13% of the company's stock.

About Protara Therapeutics

Protara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing transformative therapies for cancer and other serious diseases. The company's lead product candidate, TARA-002, is an investigational cell-based immunotherapy derived from a proprietary preparation of Streptococcus pyogenes. Protara is evaluating TARA-002 primarily for the treatment of non-muscle-invasive bladder cancer.

Protara has also investigated TARA-002 for lymphatic malformations, rare abnormalities of the lymphatic system that can cause swelling, pain and other complications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.