Protara Therapeutics, Inc. (NASDAQ:TARA) Given Consensus Rating of “Moderate Buy” by Brokerages

Protara Therapeutics, Inc. (NASDAQ:TARA) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.60.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Protara Therapeutics

Institutional investors have recently bought and sold shares of the company. Velan Capital Investment Management LP lifted its position in Protara Therapeutics by 28.3% in the second quarter. Velan Capital Investment Management LP now owns 2,139,000 shares of the company’s stock valued at $6,481,000 after buying an additional 471,200 shares during the last quarter. Acorn Capital Advisors LLC lifted its position in Protara Therapeutics by 36.9% in the second quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock valued at $5,309,000 after buying an additional 472,315 shares during the last quarter. Geode Capital Management LLC lifted its position in Protara Therapeutics by 114.7% in the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock valued at $2,256,000 after buying an additional 397,822 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Protara Therapeutics in the second quarter valued at about $1,212,000. Finally, Marshall Wace LLP acquired a new position in Protara Therapeutics in the second quarter valued at about $1,098,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Up 0.8%

Protara Therapeutics stock opened at $5.18 on Friday. Protara Therapeutics has a 52-week low of $2.21 and a 52-week high of $10.48. The firm has a market capitalization of $199.85 million, a price-to-earnings ratio of -3.20 and a beta of 1.53. The company has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $3.58.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. On average, research analysts anticipate that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

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.