Protara Therapeutics (NASDAQ:TARA) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $23.00 price objective on the stock.

Several other analysts have also recently commented on the company. Lifesci Capital assumed coverage on Protara Therapeutics in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $22.00 target price for the company. Scotiabank initiated coverage on Protara Therapeutics in a research report on Wednesday, April 16th. They issued a “sector outperform” rating and a $12.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on Protara Therapeutics in a report on Friday, March 14th. They set an “overweight” rating for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.40.

Protara Therapeutics Stock Down 18.5 %

TARA opened at $3.52 on Monday. The firm has a market cap of $129.42 million, a PE ratio of -1.25 and a beta of 1.60. The business has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $4.02. Protara Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.09. On average, equities research analysts anticipate that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total transaction of $96,144.72. Following the completion of the sale, the insider now directly owns 98,861 shares in the company, valued at approximately $447,840.33. This trade represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. raised its holdings in Protara Therapeutics by 78.9% during the fourth quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company’s stock valued at $17,952,000 after buying an additional 1,500,000 shares in the last quarter. Janus Henderson Group PLC bought a new position in Protara Therapeutics during the fourth quarter valued at about $11,938,000. Adage Capital Partners GP L.L.C. bought a new position in Protara Therapeutics during the fourth quarter valued at about $11,880,000. Toronto Dominion Bank bought a new position in Protara Therapeutics during the fourth quarter valued at about $11,030,000. Finally, Blackstone Inc. bought a new position in Protara Therapeutics during the fourth quarter valued at about $8,870,000. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Company Profile

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.