What is HC Wainwright’s Estimate for TARA FY2024 Earnings?

Protara Therapeutics, Inc. (NASDAQ:TARA) – Investment analysts at HC Wainwright decreased their FY2024 earnings estimates for shares of Protara Therapeutics in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of ($2.27) for the year, down from their previous forecast of ($2.22). HC Wainwright currently has a “Buy” rating and a $23.00 target price on the stock. The consensus estimate for Protara Therapeutics’ current full-year earnings is ($2.99) per share. HC Wainwright also issued estimates for Protara Therapeutics’ Q4 2024 earnings at ($0.54) EPS, Q1 2025 earnings at ($0.57) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.63) EPS, FY2025 earnings at ($2.39) EPS, FY2026 earnings at ($2.93) EPS, FY2027 earnings at ($2.96) EPS and FY2028 earnings at ($1.86) EPS.

Separately, Oppenheimer lowered their price objective on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

Protara Therapeutics Stock Down 4.3 %

Protara Therapeutics stock opened at $2.47 on Monday. The stock has a market cap of $50.96 million, a price-to-earnings ratio of -0.88 and a beta of 1.77. The business has a 50-day simple moving average of $2.04 and a 200 day simple moving average of $2.28. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50).

Insider Activity

In other news, major shareholder Opaleye Management Inc. sold 36,492 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $1.89, for a total value of $68,969.88. Following the completion of the transaction, the insider now owns 54,600 shares of the company’s stock, valued at approximately $103,194. This represents a 40.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Protara Therapeutics by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after purchasing an additional 29,514 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Protara Therapeutics in the 3rd quarter worth $60,000. Oppenheimer & Co. Inc. grew its holdings in shares of Protara Therapeutics by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after acquiring an additional 51,944 shares during the period. CVI Holdings LLC purchased a new stake in Protara Therapeutics during the second quarter valued at $630,000. Finally, Armistice Capital LLC bought a new position in Protara Therapeutics in the second quarter valued at about $1,082,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

About Protara Therapeutics

Protara Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in advancing transformative therapies for the treatment of cancer and rare diseases. The company's lead program is TARA-002, an investigational cell therapy, which is in Phase II clinical trial for the treatment of non-muscle invasive bladder cancer and lymphatic malformations.