Protara Therapeutics, Inc. (NASDAQ:TARA) Receives $19.60 Average Target Price from Brokerages

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $19.60.

A number of equities analysts have issued reports on TARA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a research report on Wednesday, November 19th.

Protara Therapeutics Price Performance

Shares of TARA opened at $7.37 on Thursday. The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $3.90. The firm has a market capitalization of $284.50 million, a PE ratio of -4.55 and a beta of 1.59. Protara Therapeutics has a one year low of $2.48 and a one year high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last announced its earnings results on Monday, November 10th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. Analysts expect that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

Several large investors have recently made changes to their positions in TARA. Velan Capital Investment Management LP boosted its position in shares of Protara Therapeutics by 28.3% in the 2nd quarter. Velan Capital Investment Management LP now owns 2,139,000 shares of the company’s stock worth $6,481,000 after purchasing an additional 471,200 shares in the last quarter. Vanguard Group Inc. raised its stake in Protara Therapeutics by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,904,156 shares of the company’s stock valued at $8,283,000 after buying an additional 102,176 shares during the last quarter. Acorn Capital Advisors LLC boosted its holdings in Protara Therapeutics by 36.9% in the second quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock worth $5,309,000 after acquiring an additional 472,315 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Protara Therapeutics by 114.7% in the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock worth $2,256,000 after acquiring an additional 397,822 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Protara Therapeutics by 22.0% during the third quarter. Millennium Management LLC now owns 688,256 shares of the company’s stock valued at $2,994,000 after acquiring an additional 124,136 shares in the last quarter. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

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.