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

Protara Therapeutics, Inc. (NASDAQ:TARA) has received a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $20.50.

TARA has been the subject of a number of recent research reports. Lifesci Capital initiated coverage on Protara Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating and a $22.00 target price for the company. Scotiabank started coverage on shares of Protara Therapeutics in a research note on Wednesday, April 16th. They set a “sector outperform” rating and a $12.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research note on Monday, April 28th. Jones Trading raised shares of Protara Therapeutics to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald started coverage on shares of Protara Therapeutics in a research note on Friday, March 14th. They set an “overweight” rating for the company.

Protara Therapeutics Trading Down 3.4%

Shares of Protara Therapeutics stock opened at $2.88 on Monday. The company has a 50 day moving average of $3.30 and a 200-day moving average of $4.10. Protara Therapeutics has a 1-year low of $1.60 and a 1-year high of $10.48. The company has a market cap of $111.11 million, a PE ratio of -1.67 and a beta of 1.34.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.18. Research analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current year.

Institutional Trading of Protara Therapeutics

Several hedge funds have recently added to or reduced their stakes in TARA. Charles Schwab Investment Management Inc. purchased a new position in Protara Therapeutics in the first quarter valued at about $64,000. HBK Investments L P purchased a new position in Protara Therapeutics in the fourth quarter valued at about $106,000. Squarepoint Ops LLC purchased a new position in Protara Therapeutics in the fourth quarter valued at about $110,000. Dimensional Fund Advisors LP purchased a new position in Protara Therapeutics in the fourth quarter valued at about $111,000. Finally, American Century Companies Inc. purchased a new position in Protara Therapeutics in the first quarter valued at about $154,000. Institutional investors own 38.13% of the company’s stock.

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.