Protara Therapeutics (NASDAQ:TARA) Releases Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Protara reported quarterly EPS of ($0.37), missing the consensus estimate of ($0.34) by $0.03.
• The stock trades around $5.75 with a market cap of about $297M, while analysts have an average price target of $21.50 and a consensus rating of "Moderate Buy," implying significant upside vs. the current price.
• Institutional investors own roughly 38.13% of the shares, with recent position increases from firms including Rhumbline, Price T. Rowe, Two Sigma, Charles Schwab and Quadrature.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03), FiscalAI reports.

Protara Therapeutics Price Performance

NASDAQ:TARA opened at $5.75 on Tuesday. The company has a market cap of $296.87 million, a PE ratio of -4.02 and a beta of 1.40. Protara Therapeutics has a one year low of $2.77 and a one year high of $7.82. The firm's 50 day simple moving average is $6.09 and its 200 day simple moving average is $5.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Protara Therapeutics by 8.2% during the 3rd quarter. Rhumbline Advisers now owns 34,137 shares of the company's stock valued at $148,000 after buying an additional 2,596 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Protara Therapeutics by 26.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,736 shares of the company's stock valued at $111,000 after buying an additional 4,383 shares during the last quarter. Two Sigma Investments LP raised its position in Protara Therapeutics by 35.8% in the 3rd quarter. Two Sigma Investments LP now owns 19,558 shares of the company's stock worth $85,000 after buying an additional 5,154 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Protara Therapeutics by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 102,499 shares of the company's stock valued at $546,000 after buying an additional 6,725 shares during the period. Finally, Quadrature Capital Ltd raised its position in shares of Protara Therapeutics by 39.4% during the 4th quarter. Quadrature Capital Ltd now owns 24,184 shares of the company's stock valued at $129,000 after purchasing an additional 6,838 shares during the period. Hedge funds and other institutional investors own 38.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Tuesday, February 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd. Piper Sandler began coverage on Protara Therapeutics in a research report on Wednesday, January 7th. They set an "overweight" rating and a $24.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Protara Therapeutics in a research report on Wednesday, March 4th. They set an "overweight" rating and a $27.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Protara Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $21.50.

Protara Therapeutics Company Profile

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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