HC Wainwright Reaffirms “Buy” Rating for Protara Therapeutics (NASDAQ:TARA)

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $23.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 234.79% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Protara Therapeutics Trading Up 1.0%

TARA stock opened at $6.87 on Wednesday. The firm has a 50 day moving average of $5.55 and a 200-day moving average of $3.99. The company has a market cap of $265.11 million, a price-to-earnings ratio of -4.80 and a beta of 1.38. Protara Therapeutics has a 12-month low of $2.77 and a 12-month high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. Sell-side analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

Institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Protara Therapeutics during the second quarter valued at $47,000. Velan Capital Investment Management LP lifted its holdings in Protara Therapeutics by 5.6% in the 1st quarter. Velan Capital Investment Management LP now owns 1,667,800 shares of the company’s stock valued at $7,105,000 after purchasing an additional 88,800 shares in the last quarter. Walleye Capital LLC lifted its holdings in Protara Therapeutics by 3.9% in the 1st quarter. Walleye Capital LLC now owns 229,454 shares of the company’s stock valued at $977,000 after purchasing an additional 8,640 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Protara Therapeutics during the 2nd quarter worth about $30,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Protara Therapeutics during the first quarter worth about $64,000. 38.13% of the stock is owned by institutional investors and hedge funds.

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.