FY2024 EPS Forecast for Protara Therapeutics Cut by Analyst

Protara Therapeutics, Inc. (NASDAQ:TARA) – Analysts at HC Wainwright cut their FY2024 EPS estimates for Protara Therapeutics in a research report issued on Thursday, November 14th. HC Wainwright analyst A. Fein now forecasts that the company will earn ($2.27) per share for the year, down from their previous forecast of ($2.22). HC Wainwright has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for Protara Therapeutics’ current full-year earnings is ($2.99) per share. HC Wainwright also issued estimates for Protara Therapeutics’ Q4 2024 earnings at ($0.54) EPS, Q1 2025 earnings at ($0.57) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.63) EPS, FY2025 earnings at ($2.39) EPS, FY2026 earnings at ($2.93) EPS, FY2027 earnings at ($2.96) EPS and FY2028 earnings at ($1.86) EPS.

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

Protara Therapeutics Trading Down 6.5 %

Shares of Protara Therapeutics stock opened at $2.31 on Monday. Protara Therapeutics has a 12-month low of $1.04 and a 12-month high of $5.24. The company has a market cap of $47.66 million, a price-to-earnings ratio of -0.82 and a beta of 1.77. The company’s 50-day moving average price is $2.05 and its 200-day moving average price is $2.28.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50).

Institutional Investors Weigh In On Protara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in Protara Therapeutics in the first quarter valued at approximately $40,000. Ikarian Capital LLC grew its position in Protara Therapeutics by 7.4% during the first quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after acquiring an additional 14,037 shares during the last quarter. Geode Capital Management LLC grew its position in Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after acquiring an additional 29,514 shares during the last quarter. XTX Topco Ltd bought a new position in Protara Therapeutics during the third quarter valued at approximately $60,000. Finally, Renaissance Technologies LLC grew its position in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $313,000 after acquiring an additional 65,800 shares during the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 36,492 shares of the firm’s 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 sale, the insider now directly owns 54,600 shares of the company’s stock, valued at $103,194. This trade represents a 40.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.50% of the stock is currently owned by insiders.

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.