JPMorgan Chase & Co. Issues Pessimistic Forecast for Protara Therapeutics (NASDAQ:TARA) Stock Price

Protara Therapeutics (NASDAQ:TARA) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 394.77% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Tuesday, April 21st. HC Wainwright increased their price target on Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Protara Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Protara Therapeutics Stock Performance

Shares of NASDAQ TARA traded up $0.06 during mid-day trading on Thursday, hitting $5.26. The stock had a trading volume of 295,566 shares, compared to its average volume of 947,118. The company has a 50 day moving average of $5.31 and a two-hundred day moving average of $5.70. Protara Therapeutics has a twelve month low of $2.77 and a twelve month high of $7.82. The firm has a market cap of $289.34 million, a PE ratio of -3.98 and a beta of 1.53.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. Equities research analysts predict that Protara Therapeutics will post -1.58 EPS for the current fiscal year.

Insider Activity at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 22,598 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total transaction of $118,865.48. Following the sale, the insider directly owned 95,961 shares in the company, valued at $504,754.86. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Protara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TARA. JPMorgan Chase & Co. acquired a new stake in Protara Therapeutics in the 2nd quarter valued at $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Protara Therapeutics in the 2nd quarter valued at $53,000. Persistent Asset Partners Ltd acquired a new stake in Protara Therapeutics in the 4th quarter valued at $57,000. AXQ Capital LP acquired a new stake in Protara Therapeutics in the 4th quarter valued at $58,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Protara Therapeutics in the 4th quarter worth about $59,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

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.