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

Protara Therapeutics, Inc. (NASDAQ:TARA) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.50.

A number of research analysts recently issued reports on TARA shares. HC Wainwright reiterated a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Wednesday, October 8th.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $5.55 on Monday. The firm has a market cap of $286.55 million, a price-to-earnings ratio of -3.88 and a beta of 1.38. The business has a 50-day simple moving average of $5.72 and a two-hundred day simple moving average of $4.25. Protara Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $7.82.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TARA. Velan Capital Investment Management LP lifted its position in Protara Therapeutics by 28.3% during 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 purchasing an additional 471,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Protara Therapeutics by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,904,156 shares of the company’s stock valued at $8,283,000 after acquiring an additional 102,176 shares during the last quarter. Acorn Capital Advisors LLC grew 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 worth $5,309,000 after acquiring an additional 472,315 shares in the last quarter. Geode Capital Management LLC increased its stake in Protara Therapeutics by 114.7% during the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock worth $2,256,000 after acquiring an additional 397,822 shares during the last quarter. Finally, Millennium Management LLC raised its position in Protara Therapeutics by 22.0% during the third quarter. Millennium Management LLC now owns 688,256 shares of the company’s stock valued at $2,994,000 after purchasing an additional 124,136 shares during the period. Institutional investors 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.