Brokerages Set Protara Therapeutics, Inc. (NASDAQ:TARA) Target Price at $20.50

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.50.

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

Insider Buying and Selling at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 98,861 shares in the company, valued at approximately $447,840.33. This represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TARA. Oppenheimer & Co. Inc. boosted its stake in shares of Protara Therapeutics by 12.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company's stock valued at $1,064,000 after buying an additional 22,301 shares during the last quarter. Bailard Inc. purchased a new position in shares of Protara Therapeutics during the 4th quarter valued at approximately $157,000. Commonwealth Equity Services LLC boosted its stake in shares of Protara Therapeutics by 90.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock valued at $195,000 after buying an additional 17,572 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Protara Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock valued at $948,000 after buying an additional 9,553 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Protara Therapeutics during the fourth quarter worth $648,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Performance

Protara Therapeutics stock traded up $0.22 during trading on Thursday, hitting $3.34. The company's stock had a trading volume of 362,823 shares, compared to its average volume of 775,553. The stock has a market capitalization of $128.86 million, a price-to-earnings ratio of -1.18 and a beta of 1.34. The stock's fifty day moving average is $3.57 and its 200 day moving average is $4.22. Protara Therapeutics has a 1-year low of $1.60 and a 1-year high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.18. On average, research analysts anticipate that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

Protara Therapeutics Company Profile

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.