Protara Therapeutics, Inc. (NASDAQ:TARA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.25.

A number of brokerages recently commented on TARA. Oppenheimer increased their price target on Protara Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. TD Cowen reissued a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th. Wall Street Zen raised Protara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright reissued a “buy” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. reduced their price target on Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th.

Insider Buying and Selling

In related news, insider Jacqueline Zummo sold 22,598 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total value of $118,865.48. Following the completion of the transaction, the insider owned 95,961 shares of the company’s stock, valued at approximately $504,754.86. This represents a 19.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TARA. Geode Capital Management LLC lifted its holdings in Protara Therapeutics by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock worth $2,256,000 after buying an additional 397,822 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Protara Therapeutics during the 2nd quarter worth approximately $46,000. American Century Companies Inc. lifted its holdings in Protara Therapeutics by 69.8% during the 2nd quarter. American Century Companies Inc. now owns 61,554 shares of the company’s stock worth $187,000 after buying an additional 25,305 shares during the last quarter. New York State Common Retirement Fund bought a new position in Protara Therapeutics during the 2nd quarter worth approximately $102,000. Finally, Invesco Ltd. bought a new position in Protara Therapeutics during the 2nd quarter worth approximately $73,000. Institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Stock Performance

TARA stock opened at $4.76 on Thursday. Protara Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.82. The firm has a market cap of $267.51 million, a P/E ratio of -3.55 and a beta of 1.53. The stock has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $5.70.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. On average, equities research analysts predict that Protara Therapeutics will post -1.45 EPS for the current year.

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.