Protara Therapeutics (NASDAQ:TARA) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Protara Therapeutics reported a quarterly earnings per share (EPS) of ($0.35), exceeding the consensus estimate of ($0.43) by $0.08.
• The company's stock, trading at $3.10, has experienced significant volatility with a 52-week range of $1.60 to $10.48.
• Several equities analysts have rated Protara Therapeutics with a consensus rating of "Buy" and a price target averaging $20.50.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) announced its earnings results on Monday. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08, Zacks reports.

Protara Therapeutics Price Performance

Shares of Protara Therapeutics stock traded down $0.16 during midday trading on Friday, hitting $3.03. 229,627 shares of the company were exchanged, compared to its average volume of 208,907. The firm has a market cap of $116.90 million, a P/E ratio of -1.87 and a beta of 1.42. Protara Therapeutics has a 52 week low of $1.60 and a 52 week high of $10.48. The firm has a 50 day simple moving average of $3.11 and a 200-day simple moving average of $3.61.

Hedge Funds Weigh In On Protara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in Protara Therapeutics in the 2nd quarter valued at $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Protara Therapeutics in the 2nd quarter valued at $53,000. Bridgeway Capital Management LLC raised its position in Protara Therapeutics by 49.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 59,830 shares of the company's stock valued at $181,000 after purchasing an additional 19,830 shares during the last quarter. Invesco Ltd. bought a new position in Protara Therapeutics in the 2nd quarter valued at $73,000. Finally, American Century Companies Inc. raised its position in Protara Therapeutics by 69.8% in the 2nd quarter. American Century Companies Inc. now owns 61,554 shares of the company's stock valued at $187,000 after purchasing an additional 25,305 shares during the last quarter. Institutional investors own 38.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TARA. Jones Trading raised Protara Therapeutics to a "strong-buy" rating and set a $21.00 price objective for the company in a research note on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Monday, April 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Protara Therapeutics currently has an average rating of "Buy" and a consensus price target of $19.60.

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.