Analysts Set Protara Therapeutics, Inc. (NASDAQ:TARA) PT at $21.40

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings 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 1 year price target among analysts that have issued a report on the stock in the last year is $21.40.

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

Insiders Place Their Bets

In other Protara Therapeutics news, insider Jacqueline Zummo sold 22,598 shares of Protara Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total value of $118,865.48. Following the transaction, the insider owned 95,961 shares in the company, valued at $504,754.86. The trade was a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Protara Therapeutics

Institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC raised its stake in shares of Protara Therapeutics by 3,127.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company’s stock worth $6,059,000 after acquiring an additional 1,101,576 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Protara Therapeutics during the fourth quarter worth $5,562,000. Janus Henderson Group PLC lifted its holdings in shares of Protara Therapeutics by 21.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company’s stock valued at $27,379,000 after purchasing an additional 910,285 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in shares of Protara Therapeutics by 60.7% during the 4th quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock valued at $11,992,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Maven Securities LTD acquired a new stake in shares of Protara Therapeutics in the 4th quarter worth $4,022,000. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Stock Performance

Shares of Protara Therapeutics stock opened at $5.11 on Wednesday. The stock’s fifty day moving average price is $6.03 and its 200-day moving average price is $5.58. The firm has a market cap of $276.35 million, a P/E ratio of -3.87 and a beta of 1.50. Protara Therapeutics has a 12 month low of $2.77 and a 12 month high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). Analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current year.

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.