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

Key Points

• Protara Therapeutics has an average analyst rating of “Moderate Buy”, with seven buy ratings and one sell rating among eight analysts. The consensus 12-month price target is $26.25.
• Several firms updated their views recently: Oppenheimer raised its target to $28 and kept an outperform rating, while UBS and Cantor Fitzgerald reiterated buy/overweight ratings. Weiss Ratings remained bearish with a sell rating.
• The stock was trading around $4.20, up 2.2% in the session, and Protara recently reported a smaller-than-expected quarterly loss of $0.31 per share versus estimates of $0.36.

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) have earned an average rating of "Moderate Buy" from the eight analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.25.

Several research firms have weighed in on TARA. Oppenheimer lifted their target price on Protara Therapeutics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Protara Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Protara Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. UBS Group restated a "buy" rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th.

Protara Therapeutics Stock Up 2.2%

NASDAQ:TARA opened at $4.20 on Friday. Protara Therapeutics has a 52 week low of $2.97 and a 52 week high of $7.82. The stock's fifty day moving average is $4.47 and its two-hundred day moving average is $5.27. The stock has a market capitalization of $236.04 million, a price-to-earnings ratio of -3.13 and a beta of 1.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.05. On average, sell-side analysts expect that Protara Therapeutics will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Protara Therapeutics by 114.7% during the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company's stock worth $2,256,000 after acquiring an additional 397,822 shares during the period. JPMorgan Chase & Co. acquired a new position in Protara Therapeutics during the 2nd quarter worth $46,000. American Century Companies Inc. grew its stake in Protara Therapeutics by 69.8% during the 2nd quarter. American Century Companies Inc. now owns 61,554 shares of the company's stock worth $187,000 after purchasing an additional 25,305 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Protara Therapeutics during the 2nd quarter worth about $102,000. Finally, Invesco Ltd. purchased a new stake in Protara Therapeutics during the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Protara Therapeutics Company Profile

Protara Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for virus-driven cancers. The company's primary areas of research include human papillomavirus (HPV)–associated malignancies, where it seeks to harness and enhance the body's immune response to target tumor cells. Protara's therapeutic strategy combines antigen-specific vaccination approaches with modulators of T-cell activation to improve clinical outcomes in patients with HPV-mediated disease.

Protara's lead immunotherapy candidate is PTX-35, an investigational monoclonal antibody designed to agonize OX40, a co-stimulatory receptor on T cells.

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