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

Protara Therapeutics, Inc. (NASDAQ:TARA) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.40.

Several brokerages have recently issued reports on TARA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Thursday, January 22nd. Piper Sandler assumed coverage on shares of Protara Therapeutics in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a research report on Wednesday, December 3rd.

Protara Therapeutics Stock Down 2.6%

TARA stock opened at $6.48 on Tuesday. Protara Therapeutics has a twelve month low of $2.77 and a twelve month high of $7.82. The company has a market cap of $334.56 million, a P/E ratio of -4.53 and a beta of 1.38. The business has a fifty day moving average of $5.83 and a 200-day moving average of $4.88.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. As a group, equities research analysts anticipate that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Acorn Capital Advisors LLC raised its position in shares of Protara Therapeutics by 36.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock valued at $5,309,000 after acquiring an additional 472,315 shares during the period. Assenagon Asset Management S.A. bought a new stake in Protara Therapeutics in the third quarter valued at approximately $1,337,000. Velan Capital Investment Management LP raised its holdings 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 worth $6,481,000 after purchasing an additional 471,200 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Protara Therapeutics during the second quarter worth $47,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Protara Therapeutics in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

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.