Brokerages Set Protara Therapeutics, Inc. (NASDAQ:TARA) PT at $19.60

Protara Therapeutics, Inc. (NASDAQ:TARA) has been given an average recommendation of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $19.60.

A number of equities research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a report on Monday, April 28th. Jones Trading upgraded shares of Protara Therapeutics to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Thursday, May 22nd.

Protara Therapeutics Stock Performance

Shares of TARA opened at $3.11 on Tuesday. The company has a market cap of $119.98 million, a price-to-earnings ratio of -1.92 and a beta of 1.42. The stock has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $3.54. Protara Therapeutics has a 52-week low of $1.60 and a 52-week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last announced its earnings results on Monday, August 11th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. As a group, research analysts predict that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its position in Protara Therapeutics by 49.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 59,830 shares of the company’s stock valued at $181,000 after buying an additional 19,830 shares during the last quarter. Acorn Capital Advisors LLC lifted its stake in shares of Protara Therapeutics by 36.9% during the second quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock valued at $5,309,000 after acquiring an additional 472,315 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Protara Therapeutics in the second quarter valued at about $1,212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Protara Therapeutics in the second quarter worth about $53,000. Finally, Velan Capital Investment Management LP raised its holdings in Protara Therapeutics by 28.3% during the 2nd quarter. Velan Capital Investment Management LP now owns 2,139,000 shares of the company’s stock worth $6,481,000 after purchasing an additional 471,200 shares during the last quarter. Institutional investors and hedge funds own 38.13% of the company’s stock.

About Protara Therapeutics

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.