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

Protara Therapeutics, Inc. (NASDAQ:TARA) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.40.

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

Insider Activity

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total transaction of $96,144.72. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new stake in shares of Protara Therapeutics in the 1st quarter valued at $64,000. HBK Investments L P purchased a new stake in Protara Therapeutics in the fourth quarter valued at $106,000. Squarepoint Ops LLC acquired a new position in Protara Therapeutics in the fourth quarter valued at $110,000. Dimensional Fund Advisors LP purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at about $111,000. Finally, Bailard Inc. purchased a new position in Protara Therapeutics during the 4th quarter worth $157,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Performance

NASDAQ TARA opened at $3.24 on Friday. The company has a market capitalization of $125.00 million, a P/E ratio of -1.15 and a beta of 1.73. Protara Therapeutics has a 52-week low of $1.60 and a 52-week high of $10.48. The company has a fifty day moving average of $4.00 and a 200-day moving average of $4.10.

Protara Therapeutics (NASDAQ:TARA) last posted its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.18. As a group, analysts forecast that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

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.