JPMorgan Chase & Co. Issues Pessimistic Forecast for Protara Therapeutics (NASDAQ:TARA) Stock Price

Protara Therapeutics (NASDAQ:TARA) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 409.80% from the stock’s current price.

TARA has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a report on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th. Finally, HC Wainwright boosted their price target on shares of Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Protara Therapeutics Stock Performance

Shares of TARA opened at $5.10 on Thursday. Protara Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.82. The company has a market cap of $286.62 million, a price-to-earnings ratio of -3.81 and a beta of 1.53. The firm has a fifty day moving average of $5.27 and a 200-day moving average of $5.70.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. Analysts predict that Protara Therapeutics will post -1.56 EPS for the current year.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 22,598 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total transaction of $118,865.48. Following the sale, the insider owned 95,961 shares in the company, valued at approximately $504,754.86. The trade was a 19.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new position in Protara Therapeutics during the 4th quarter valued at about $57,000. AXQ Capital LP purchased a new position in Protara Therapeutics during the 4th quarter valued at about $58,000. The Manufacturers Life Insurance Company purchased a new position in Protara Therapeutics during the 4th quarter valued at about $59,000. Empery Asset Management LP bought a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $68,000. Finally, AQR Capital Management LLC bought a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $78,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

About Protara Therapeutics

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.