Wall Street Zen Upgrades Protara Therapeutics (NASDAQ:TARA) to Sell

Protara Therapeutics (NASDAQ:TARA) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently commented on the stock. UBS Group restated a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. JPMorgan Chase & Co. cut their target price on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, Oppenheimer raised their target price on Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Protara Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $26.25.

Protara Therapeutics Stock Performance

Shares of TARA opened at $3.94 on Friday. The business’s 50-day moving average price is $4.01 and its 200 day moving average price is $4.71. The stock has a market capitalization of $232.85 million, a P/E ratio of -2.92 and a beta of 1.49. Protara Therapeutics has a 1-year low of $3.02 and a 1-year high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). On average, research analysts predict that Protara Therapeutics will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On Protara Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in shares of Protara Therapeutics by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 5,207,011 shares of the company’s stock valued at $27,155,000 after acquiring an additional 65,395 shares in the last quarter. Velan Capital Investment Management LP increased its stake in shares of Protara Therapeutics by 0.4% in the second quarter. Velan Capital Investment Management LP now owns 2,844,652 shares of the company’s stock worth $10,867,000 after acquiring an additional 10,000 shares during the last quarter. Integral Health Asset Management LLC raised its holdings in shares of Protara Therapeutics by 60.7% during the fourth quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock worth $11,992,000 after acquiring an additional 850,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Protara Therapeutics by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,904,156 shares of the company’s stock worth $8,283,000 after acquiring an additional 102,176 shares in the last quarter. Finally, AIGH Capital Management LLC purchased a new stake in shares of Protara Therapeutics during the first quarter worth $8,454,000. 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.