Protara Therapeutics’ (TARA) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a report issued on Friday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other research analysts have also issued reports on TARA. Oppenheimer reduced their price target on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a research note on Friday.

Protara Therapeutics Trading Down 1.8 %

Shares of TARA stock opened at $5.91 on Friday. The firm has a market capitalization of $121.92 million, a price-to-earnings ratio of -2.10 and a beta of 1.78. The firm’s 50 day moving average is $2.43 and its 200-day moving average is $2.29. Protara Therapeutics has a 1 year low of $1.37 and a 1 year high of $10.48.

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

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. sold 32,600 shares of Protara Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the sale, the insider now directly owns 51,500 shares in the company, valued at $88,065. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TARA. Armistice Capital LLC bought a new stake in shares of Protara Therapeutics in the 2nd quarter valued at about $1,082,000. CVI Holdings LLC acquired a new stake in Protara Therapeutics during the 2nd quarter valued at $630,000. Oppenheimer & Co. Inc. boosted its position in Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after purchasing an additional 51,944 shares during the period. Geode Capital Management LLC increased its holdings in shares of Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after purchasing an additional 29,514 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of 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. 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.