Protara Therapeutics (NASDAQ:TARA) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

Separately, Oppenheimer decreased their price objective on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, August 12th.

Protara Therapeutics Stock Down 4.3 %

Shares of TARA stock opened at $2.47 on Thursday. The firm has a 50 day moving average of $2.04 and a two-hundred day moving average of $2.28. The stock has a market capitalization of $50.96 million, a PE ratio of -0.88 and a beta of 1.77. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). Analysts expect that Protara Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Opaleye Management Inc. sold 32,600 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total value of $55,746.00. Following the transaction, the insider now owns 51,500 shares in the company, valued at approximately $88,065. This represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Protara Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. purchased a new position in Protara Therapeutics in the first quarter valued at approximately $40,000. XTX Topco Ltd acquired a new position in shares of Protara Therapeutics in the 3rd quarter valued at $60,000. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics in the 2nd quarter valued at $161,000. Geode Capital Management LLC raised its stake in Protara Therapeutics by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after acquiring an additional 29,514 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Protara Therapeutics by 77.8% during the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after acquiring an additional 65,800 shares in the last quarter. Hedge funds and other institutional investors 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.