Protara Therapeutics, Inc. (NASDAQ:TARA) Receives Average Rating of "Buy" from Brokerages

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.

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) has received an average recommendation of "Buy" from the six analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.60.

Separately, Jones Trading upgraded shares of Protara Therapeutics to a "strong-buy" rating and set a $21.00 price objective for the company in a research report on Thursday, May 22nd.

Protara Therapeutics Price Performance

TARA traded up $0.02 during trading on Friday, hitting $3.16. 119,233 shares of the stock traded hands, compared to its average volume of 139,670. Protara Therapeutics has a twelve month low of $1.60 and a twelve month high of $10.48. The company has a market cap of $121.91 million, a price-to-earnings ratio of -1.95 and a beta of 1.52. The business has a 50 day moving average price of $3.16 and a 200 day moving average price of $3.44.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. On average, equities research analysts predict that Protara Therapeutics will post -3.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Protara Therapeutics during the second quarter worth $30,000. Quadrature Capital Ltd acquired a new position in shares of Protara Therapeutics during the second quarter worth $35,000. JPMorgan Chase & Co. acquired a new position in shares of Protara Therapeutics during the second quarter worth $46,000. Los Angeles Capital Management LLC acquired a new position in shares of Protara Therapeutics during the second quarter worth $47,000. Finally, Intech Investment Management LLC acquired a new position in shares of Protara Therapeutics during the second quarter worth $49,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

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.