Protara Therapeutics, Inc. (NASDAQ:TARA) Receives $21.50 Consensus Price Target from Brokerages

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.50.

A number of equities research analysts have weighed in on the company. Piper Sandler assumed coverage on Protara Therapeutics in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. began coverage on Protara Therapeutics in a research note on Wednesday, March 4th. They set an “overweight” rating and a $27.00 target price for the company.

Institutional Trading of Protara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TARA. Police & Firemen s Retirement System of New Jersey acquired a new stake in Protara Therapeutics during the second quarter valued at approximately $30,000. Quadrature Capital Ltd acquired a new stake in shares of Protara Therapeutics during the 2nd quarter valued at $35,000. JPMorgan Chase & Co. bought a new stake in shares of Protara Therapeutics during the 2nd quarter worth $46,000. Los Angeles Capital Management LLC bought a new stake in shares of Protara Therapeutics during the 2nd quarter worth $47,000. Finally, Intech Investment Management LLC acquired a new position in shares of Protara Therapeutics in the 2nd quarter worth $49,000. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Trading Down 2.5%

TARA stock opened at $5.75 on Friday. The firm’s 50-day moving average is $6.09 and its two-hundred day moving average is $5.33. The company has a market capitalization of $296.87 million, a price-to-earnings ratio of -4.02 and a beta of 1.40. Protara Therapeutics has a 52 week low of $2.77 and a 52 week high of $7.82.

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.