Protara Therapeutics, Inc. (NASDAQ:TARA) Stock Has Consensus Target Price of $26.25 According to Brokerages

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $26.25.

TARA has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th.

Protara Therapeutics Trading Down 2.1%

Protara Therapeutics stock opened at $3.28 on Wednesday. The company has a market capitalization of $193.85 million, a price-to-earnings ratio of -2.43 and a beta of 1.49. Protara Therapeutics has a 12 month low of $3.23 and a 12 month high of $7.82. The stock’s 50 day moving average is $3.88 and its 200-day moving average is $4.45.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03). As a group, equities research analysts predict that Protara Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd increased its holdings in shares of Protara Therapeutics by 16.7% during the second 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 second quarter valued at approximately $69,000. Corient Private Wealth LP bought a new stake in shares of Protara Therapeutics in the second quarter valued at approximately $41,000. Velan Capital Investment Management LP grew its position in Protara Therapeutics by 0.4% during the second quarter. Velan Capital Investment Management LP now owns 2,844,652 shares of the company’s stock worth $10,867,000 after buying an additional 10,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Protara Therapeutics during the second quarter worth approximately $113,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

About Protara Therapeutics

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.