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

Protara Therapeutics, Inc. (NASDAQ:TARA) has been given an average rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.25.

A number of research firms have recently commented on TARA. HC Wainwright reaffirmed a “buy” rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Protara Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Oppenheimer increased their price target on shares of Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Corient Private Wealth LP purchased a new stake in Protara Therapeutics during the second quarter valued at about $41,000. Persistent Asset Partners Ltd purchased a new position in shares of Protara Therapeutics in the 4th quarter worth about $57,000. AXQ Capital LP acquired a new position in shares of Protara Therapeutics in the 4th quarter valued at about $58,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Protara Therapeutics during the 4th quarter worth about $59,000. Finally, Empery Asset Management LP purchased a new stake in shares of Protara Therapeutics during the 4th quarter worth about $68,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Performance

Shares of TARA opened at $3.94 on Friday. The company has a market capitalization of $232.85 million, a price-to-earnings ratio of -2.92 and a beta of 1.49. The company’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $4.72. Protara Therapeutics has a 1 year low of $3.02 and a 1 year high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03). Equities analysts expect that Protara Therapeutics will post -1.48 EPS for the current fiscal year.

Protara Therapeutics Company Profile

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.