Protara Therapeutics, Inc. (NASDAQ:TARA) Receives $20.50 Consensus PT from Analysts

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) have received an average rating of "Buy" from the seven brokerages that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.50.

Several brokerages have commented on TARA. HC Wainwright reissued a "buy" rating and issued a $23.00 price objective on shares of Protara Therapeutics in a report on Monday, April 28th. Jones Trading raised Protara Therapeutics to a "strong-buy" rating and set a $21.00 price objective on the stock in a report on Thursday, May 22nd. Lifesci Capital began coverage on Protara Therapeutics in a report on Tuesday, March 11th. They issued an "outperform" rating and a $22.00 price objective on the stock. Cantor Fitzgerald began coverage on Protara Therapeutics in a report on Friday, March 14th. They issued an "overweight" rating on the stock. Finally, Scotiabank started coverage on Protara Therapeutics in a report on Wednesday, April 16th. They issued a "sector outperform" rating and a $12.00 price objective on the stock.

Insiders Place Their Bets

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total transaction of $96,144.72. Following the transaction, the insider now owns 98,861 shares of the company's stock, valued at approximately $447,840.33. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TARA. Charles Schwab Investment Management Inc. acquired a new position in shares of Protara Therapeutics in the 1st quarter valued at $64,000. HBK Investments L P purchased a new stake in Protara Therapeutics during the 4th quarter worth about $106,000. Squarepoint Ops LLC purchased a new stake in Protara Therapeutics during the 4th quarter worth about $110,000. Dimensional Fund Advisors LP purchased a new stake in Protara Therapeutics during the 4th quarter worth about $111,000. Finally, American Century Companies Inc. purchased a new position in shares of Protara Therapeutics in the 1st quarter valued at about $154,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Protara Therapeutics Trading Down 3.1%

Shares of TARA traded down $0.10 during midday trading on Thursday, reaching $3.12. 173,095 shares of the stock were exchanged, compared to its average volume of 772,655. Protara Therapeutics has a 52 week low of $1.60 and a 52 week high of $10.48. The company's 50 day moving average is $3.60 and its two-hundred day moving average is $4.18. The company has a market capitalization of $120.38 million, a P/E ratio of -1.11 and a beta of 1.34.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.18. On average, sell-side analysts expect that Protara Therapeutics will post -3.32 EPS for the current year.

About Protara Therapeutics

Protara Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in advancing transformative therapies for the treatment of cancer and rare diseases. The company's lead program is TARA-002, an investigational cell therapy, which is in Phase II clinical trial for the treatment of non-muscle invasive bladder cancer and lymphatic malformations.