Protara Therapeutics, Inc. (NASDAQ:TARA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.40.

Several research firms have weighed in on TARA. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research report on Wednesday, December 3rd. Piper Sandler began coverage on Protara Therapeutics in a report on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC raised its stake in Protara Therapeutics by 36.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock worth $5,309,000 after acquiring an additional 472,315 shares during the period. Velan Capital Investment Management LP increased its stake in shares of Protara Therapeutics by 28.3% in the second 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 in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Protara Therapeutics during the 2nd quarter valued at $1,212,000. Geode Capital Management LLC raised its position in shares of Protara Therapeutics by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock valued at $2,256,000 after purchasing an additional 397,822 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the 2nd quarter valued at $1,098,000. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $5.91 on Friday. The stock’s 50-day simple moving average is $5.84 and its two-hundred day simple moving average is $4.56. The stock has a market capitalization of $305.13 million, a price-to-earnings ratio of -4.13 and a beta of 1.42. Protara Therapeutics has a 52-week low of $2.77 and a 52-week high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.08. As a group, equities analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

About Protara Therapeutics

Protara Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for virus-driven cancers. The company’s primary areas of research include human papillomavirus (HPV)–associated malignancies, where it seeks to harness and enhance the body’s immune response to target tumor cells. Protara’s therapeutic strategy combines antigen-specific vaccination approaches with modulators of T-cell activation to improve clinical outcomes in patients with HPV-mediated disease.

Protara’s lead immunotherapy candidate is PTX-35, an investigational monoclonal antibody designed to agonize OX40, a co-stimulatory receptor on T cells.