Protara Therapeutics, Inc. (NASDAQ:TARA) Given Average Rating of “Buy” by Analysts

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $20.40.

A number of research firms have recently issued reports on TARA. Lifesci Capital began coverage on shares of Protara Therapeutics in a research note on Tuesday, March 11th. They set an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Protara Therapeutics in a research note on Friday, March 14th. They issued an “overweight” rating for the company. Finally, Scotiabank began coverage on shares of Protara Therapeutics in a research note on Wednesday, April 16th. They issued a “sector outperform” rating and a $12.00 price target for the company.

Protara Therapeutics Stock Up 2.6%

TARA opened at $3.19 on Friday. The firm has a market capitalization of $123.08 million, a P/E ratio of -1.13 and a beta of 1.73. The firm’s 50 day moving average is $3.93 and its 200-day moving average is $4.13. Protara Therapeutics has a 52-week low of $1.60 and a 52-week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.18. Equities analysts expect that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total value of $96,144.72. Following the completion of the transaction, the insider now owns 98,861 shares of the company’s stock, valued at $447,840.33. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. boosted its holdings in Protara Therapeutics by 78.9% in the fourth quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company’s stock worth $17,952,000 after purchasing an additional 1,500,000 shares during the period. Janus Henderson Group PLC acquired a new position in Protara Therapeutics in the fourth quarter worth $11,938,000. Adage Capital Partners GP L.L.C. acquired a new position in Protara Therapeutics in the fourth quarter worth $11,880,000. Toronto Dominion Bank acquired a new position in Protara Therapeutics in the fourth quarter worth $11,030,000. Finally, Blackstone Inc. acquired a new position in Protara Therapeutics in the fourth quarter worth $8,870,000. 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.