Brokerages Set Protara Therapeutics, Inc. (NASDAQ:TARA) PT at $25.20

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com 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 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.25.

A number of analysts have recently commented on TARA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Tuesday, April 21st. Oppenheimer raised their price target on Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. HC Wainwright reissued a “buy” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Wall Street Zen raised Protara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, UBS Group reissued a “buy” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th.

Protara Therapeutics Stock Performance

TARA opened at $4.92 on Thursday. The business’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $5.69. Protara Therapeutics has a one year low of $2.77 and a one year high of $7.82. The stock has a market capitalization of $276.50 million, a P/E ratio of -3.67 and a beta of 1.53.

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

Insider Activity

In related news, insider Jacqueline Zummo sold 22,598 shares of the firm’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 transaction, the insider owned 95,961 shares of the company’s stock, valued at $504,754.86. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Protara Therapeutics by 22.2% during 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 during the last quarter. Rhumbline Advisers grew its holdings in shares of Protara Therapeutics by 8.2% during 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 during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 worth $111,000 after buying an additional 4,383 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Protara Therapeutics by 35.8% in the 3rd quarter. Two Sigma Investments LP now owns 19,558 shares of the company’s stock valued at $85,000 after purchasing an additional 5,154 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Protara Therapeutics by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 102,499 shares of the company’s stock worth $546,000 after purchasing an additional 6,725 shares during the period. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.