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

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $23.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 289.17% from the stock’s previous close.

Separately, Oppenheimer cut their target price on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

Protara Therapeutics Stock Down 1.8 %

Shares of NASDAQ:TARA opened at $5.91 on Friday. The business’s 50 day moving average is $2.43 and its 200 day moving average is $2.29. The stock has a market cap of $121.92 million, a P/E ratio of -2.10 and a beta of 1.78. Protara Therapeutics has a 52-week low of $1.37 and a 52-week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). On average, sell-side analysts anticipate that Protara Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling at Protara Therapeutics

In other news, major shareholder Opaleye Management Inc. sold 36,492 shares of Protara Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $1.89, for a total value of $68,969.88. Following the transaction, the insider now owns 54,600 shares of the company’s stock, valued at $103,194. The trade was a 40.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Protara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TARA. Armistice Capital LLC purchased a new position in Protara Therapeutics in the second quarter worth $1,082,000. CVI Holdings LLC acquired a new stake in shares of Protara Therapeutics in the 2nd quarter worth $630,000. Marshall Wace LLP acquired a new stake in shares of Protara Therapeutics in the 2nd quarter worth $161,000. Renaissance Technologies LLC grew 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 buying an additional 65,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Protara Therapeutics by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock valued at $328,000 after buying an additional 51,944 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.