Brokerages Set Protara Therapeutics, Inc. (NASDAQ:TARA) PT at $19.60

Key Points

• Protara Therapeutics received an average rating of "Buy" from six analysts, with a 12-month price target of $19.60 and one analyst giving a "strong-buy" rating.
• Institutional investors have significantly increased their stakes in Protara, with Bank of America Corp DE boosting its holdings by 53,013.9% in the last quarter.
• The company's lead program, TARA-002, is currently in Phase II clinical trials targeting non-muscle invasive bladder cancer and lymphatic malformations.

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) have been assigned a consensus rating of "Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities 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 price objective among analysts that have issued ratings on the stock in the last year is $19.60.

Separately, 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.

Hedge Funds Weigh In On Protara Therapeutics

Several large investors have recently made changes to their positions in TARA. Janus Henderson Group PLC acquired a new position in shares of Protara Therapeutics during the 4th quarter worth about $11,938,000. Toronto Dominion Bank acquired a new position in shares of Protara Therapeutics during the 4th quarter worth about $11,030,000. Velan Capital Investment Management LP lifted its position in shares of Protara Therapeutics by 175.1% during the 4th quarter. Velan Capital Investment Management LP now owns 1,579,000 shares of the company's stock worth $8,337,000 after purchasing an additional 1,005,000 shares during the last quarter. Acorn Capital Advisors LLC lifted its position in shares of Protara Therapeutics by 36.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company's stock worth $5,309,000 after purchasing an additional 472,315 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Protara Therapeutics during the 2nd quarter worth about $1,212,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Protara Therapeutics Stock Performance

Shares of TARA traded up $0.18 during trading hours on Friday, hitting $3.21. 185,600 shares of the company were exchanged, compared to its average volume of 133,195. The company has a market cap of $123.84 million, a PE ratio of -1.98 and a beta of 1.52. The firm's 50 day moving average is $3.16 and its 200-day moving average is $3.44. Protara Therapeutics has a 52 week low of $1.60 and a 52 week high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.08. As a group, equities analysts forecast that Protara Therapeutics will post -3.32 earnings per share 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.