Protara Therapeutics, Inc. (NASDAQ:TARA) Receives $26.25 Average PT from Brokerages

Protara Therapeutics, Inc. (NASDAQ:TARA) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26.25.

Several equities analysts have weighed in on TARA shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. HC Wainwright reaffirmed a “buy” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price target on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a report on Tuesday, April 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th.

Insiders Place Their Bets

In other news, insider Jacqueline Zummo sold 22,598 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $5.26, for a total value of $118,865.48. Following the transaction, the insider owned 95,961 shares of the company’s stock, valued at approximately $504,754.86. The trade was a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Protara Therapeutics by 22.2% in the first quarter. The Manufacturers Life Insurance Company now owns 13,548 shares of the company’s stock worth $71,000 after buying an additional 2,464 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Protara Therapeutics by 8.2% in the third quarter. Rhumbline Advisers now owns 34,137 shares of the company’s stock worth $148,000 after buying an additional 2,596 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Protara Therapeutics by 26.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,736 shares of the company’s stock worth $111,000 after buying an additional 4,383 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Protara Therapeutics by 35.8% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Protara Therapeutics by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 102,499 shares of the company’s stock worth $546,000 after buying an additional 6,725 shares in the last quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Stock Performance

TARA opened at $3.98 on Monday. The company has a market cap of $223.68 million, a price-to-earnings ratio of -2.97 and a beta of 1.45. The company’s 50 day moving average is $4.78 and its 200 day moving average is $5.45. Protara Therapeutics has a 12-month low of $2.77 and a 12-month high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. As a group, analysts predict that Protara Therapeutics will post -1.44 EPS for the current fiscal year.

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.