Protara Therapeutics (NASDAQ:TARA) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Protara Therapeutics (NASDAQ:TARA) issued its quarterly earnings data on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03), FiscalAI reports.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $5.75 on Tuesday. Protara Therapeutics has a 52-week low of $2.77 and a 52-week high of $7.82. The business’s 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $5.33. The firm has a market cap of $296.87 million, a P/E ratio of -4.02 and a beta of 1.40.

Institutional Investors Weigh In On Protara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in Protara Therapeutics during the 2nd quarter worth approximately $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Protara Therapeutics during the 2nd quarter worth $53,000. Persistent Asset Partners Ltd bought a new stake in shares of Protara Therapeutics in the 4th quarter worth $57,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $59,000. Finally, Invesco Ltd. bought a new position in shares of Protara Therapeutics during the second quarter valued at about $73,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

Analysts Set New Price Targets

TARA has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a report on Tuesday, February 10th. Piper Sandler began coverage on shares of Protara Therapeutics in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Protara Therapeutics in a research report on Wednesday, March 4th. They set an “overweight” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Protara Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

About Protara Therapeutics

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.