HC Wainwright Reiterates “Buy” Rating for Protara Therapeutics (NASDAQ:TARA)

HC Wainwright restated their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a report issued on Thursday,Benzinga reports. The firm currently has a $23.00 price target on the stock.

Separately, Oppenheimer reduced their target price on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, August 12th.

Protara Therapeutics Price Performance

Protara Therapeutics stock opened at $2.47 on Thursday. The stock has a market capitalization of $50.96 million, a PE 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 12 month low of $1.04 and a 12 month high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). On average, equities research analysts anticipate that Protara Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction of $55,746.00. Following the transaction, the insider now owns 51,500 shares of the company’s stock, valued at approximately $88,065. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of institutional investors have recently bought and sold shares of TARA. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics during the 1st quarter worth $40,000. Ikarian Capital LLC boosted its position in shares of Protara Therapeutics by 7.4% during the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock worth $813,000 after purchasing an additional 14,037 shares during the period. Geode Capital Management LLC increased its holdings in Protara Therapeutics by 21.0% in 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 stake in Protara Therapeutics in the third quarter valued at approximately $60,000. Finally, Renaissance Technologies LLC lifted its stake in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after purchasing an additional 65,800 shares in the last quarter. 38.13% of the stock is 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.