HC Wainwright Has Negative Outlook for TARA FY2024 Earnings

Protara Therapeutics, Inc. (NASDAQ:TARA) – Analysts at HC Wainwright dropped their FY2024 EPS estimates for Protara Therapeutics in a report released on Thursday, November 14th. HC Wainwright analyst A. Fein now forecasts that the company will post earnings of ($2.27) per share for the year, down from their previous estimate of ($2.22). HC Wainwright has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for Protara Therapeutics’ current full-year earnings is ($2.99) per share. HC Wainwright also issued estimates for Protara Therapeutics’ Q4 2024 earnings at ($0.54) EPS, Q1 2025 earnings at ($0.57) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.63) EPS, FY2025 earnings at ($2.39) EPS, FY2026 earnings at ($2.93) EPS, FY2027 earnings at ($2.96) EPS and FY2028 earnings at ($1.86) EPS.

Separately, Oppenheimer cut their price target on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, August 12th.

Protara Therapeutics Stock Performance

Shares of TARA stock opened at $2.32 on Monday. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24. The firm’s 50-day simple moving average is $2.06 and its two-hundred day simple moving average is $2.27. The firm has a market cap of $47.86 million, a price-to-earnings ratio of -0.82 and a beta of 1.77.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50).

Insider Buying and Selling

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total transaction of $55,746.00. Following the transaction, the insider now directly owns 51,500 shares in the company, valued at $88,065. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in Protara Therapeutics during the 1st quarter valued at $40,000. Ikarian Capital LLC lifted its holdings in Protara Therapeutics by 7.4% in the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock worth $813,000 after buying an additional 14,037 shares during the period. Renaissance Technologies LLC grew its position in shares of Protara Therapeutics by 77.8% in the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after buying an additional 65,800 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the second quarter valued at approximately $161,000. Finally, Armistice Capital LLC bought a new position in shares of Protara Therapeutics during the second quarter valued at approximately $1,082,000. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Company Profile

Protara Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in advancing transformative therapies for the treatment of cancer and rare diseases. The company's lead program is TARA-002, an investigational cell therapy, which is in Phase II clinical trial for the treatment of non-muscle invasive bladder cancer and lymphatic malformations.