Protara Therapeutics, Inc. (NASDAQ:TARA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Protara Therapeutics, Inc. (NASDAQ:TARA) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $26.25.

A number of analysts have weighed in on TARA shares. Wall Street Zen raised shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Friday, July 17th.

Hedge Funds Weigh In On Protara Therapeutics

Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its position in shares of Protara Therapeutics by 16.7% during the 2nd quarter. WINTON GROUP Ltd now owns 32,800 shares of the company’s stock worth $125,000 after purchasing an additional 4,700 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Protara Therapeutics in the 2nd quarter worth approximately $69,000. Corient Private Wealth LP acquired a new position in Protara Therapeutics during the 2nd quarter valued at approximately $41,000. Velan Capital Investment Management LP boosted its position in Protara Therapeutics by 0.4% during the 2nd quarter. Velan Capital Investment Management LP now owns 2,844,652 shares of the company’s stock valued at $10,867,000 after purchasing an additional 10,000 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Protara Therapeutics during the 2nd quarter valued at approximately $113,000. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Price Performance

Shares of NASDAQ TARA opened at $3.28 on Wednesday. The stock’s 50 day moving average price is $3.88 and its two-hundred day moving average price is $4.44. Protara Therapeutics has a 52-week low of $3.23 and a 52-week high of $7.82. The stock has a market capitalization of $193.85 million, a P/E ratio of -2.43 and a beta of 1.49.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Tuesday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.03). On average, analysts anticipate that Protara Therapeutics will post -1.4 EPS for the current year.

Protara Therapeutics Company Profile

Protara Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for cancer and rare diseases. The company’s research programs are designed to address conditions with significant unmet medical needs, including certain solid tumors and lymphatic disorders.

Protara’s lead product candidate is TARA-002, an investigational cell-based therapy derived from a proprietary preparation of inactivated Streptococcus pyogenes. The company is evaluating TARA-002 in non-muscle-invasive bladder cancer and lymphatic malformations, a rare condition involving abnormal growth of lymphatic vessels.