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

Key Points

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Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) has been assigned a consensus rating of "Buy" from the six analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $19.60.

A number of research analysts recently issued reports on TARA shares. Jones Trading raised shares of Protara Therapeutics to a "strong-buy" rating and set a $21.00 price target for the company in a research report on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Monday, April 28th.

Protara Therapeutics Stock Performance

NASDAQ:TARA traded up $0.01 during trading hours on Tuesday, reaching $3.11. The company's stock had a trading volume of 222,847 shares, compared to its average volume of 202,352. The firm has a market capitalization of $119.98 million, a price-to-earnings ratio of -1.92 and a beta of 1.42. The firm has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $3.54. 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 announced its quarterly earnings results on Monday, August 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.08. Equities analysts anticipate that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TARA. Bridgeway Capital Management LLC grew its position in Protara Therapeutics by 49.6% during the second quarter. Bridgeway Capital Management LLC now owns 59,830 shares of the company's stock valued at $181,000 after buying an additional 19,830 shares during the period. Acorn Capital Advisors LLC grew its position in Protara Therapeutics by 36.9% during the second quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company's stock valued at $5,309,000 after buying an additional 472,315 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Protara Therapeutics during the second quarter valued at approximately $1,212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Protara Therapeutics during the second quarter valued at approximately $53,000. Finally, Velan Capital Investment Management LP grew its position in Protara Therapeutics by 28.3% during the second quarter. Velan Capital Investment Management LP now owns 2,139,000 shares of the company's stock valued at $6,481,000 after buying an additional 471,200 shares during the period. 38.13% of the stock is owned by hedge funds and other institutional investors.

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.