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

Key Points

• Analyst sentiment is moderately bullish: Seven of eight covering firms rate Protara Therapeutics a buy, while one rates it a sell. The average 12-month price target is $26.25.
• Shares opened at $3.97 and have declined from a 52-week high of $7.82; the company has a market capitalization of approximately $223 million.
• Protara reported quarterly EPS of -$0.31, beating the consensus estimate of -$0.36. Institutional investors own 38.13% of the company’s stock.

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) have received an average rating of "Moderate Buy" from the eight research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $26.25.

A number of research analysts recently issued reports on TARA shares. Cantor Fitzgerald restated an "overweight" rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen raised Protara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. HC Wainwright reiterated a "buy" rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. UBS Group reissued a "buy" rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Protara Therapeutics from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th.

Protara Therapeutics Stock Up 1.3%

Shares of NASDAQ TARA opened at $3.97 on Tuesday. The firm's 50-day moving average price is $4.11 and its two-hundred day moving average price is $5.11. Protara Therapeutics has a 52-week low of $2.97 and a 52-week high of $7.82. The stock has a market capitalization of $223.11 million, a P/E ratio of -2.96 and a beta of 1.50.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. As a group, equities research analysts expect that Protara Therapeutics will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Protara Therapeutics

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in shares of Protara Therapeutics during the second quarter worth approximately $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Protara Therapeutics during the 2nd quarter worth $53,000. Persistent Asset Partners Ltd bought a new position in shares of Protara Therapeutics in the fourth quarter worth $57,000. AXQ Capital LP acquired a new position in shares of Protara Therapeutics during the fourth quarter valued at $58,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Protara Therapeutics during the fourth quarter valued at about $59,000. Institutional investors own 38.13% of the company's stock.

About Protara Therapeutics

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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