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

Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.40.

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

Insider Activity at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 22,598 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total value of $118,865.48. Following the sale, the insider directly owned 95,961 shares of the company’s stock, valued at $504,754.86. The trade was a 19.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in Protara Therapeutics in the second quarter worth $30,000. Quadrature Capital Ltd bought a new position in shares of Protara Therapeutics during the second quarter valued at $35,000. JPMorgan Chase & Co. bought a new position in shares of Protara Therapeutics during the second quarter valued at $46,000. Intech Investment Management LLC purchased a new position in shares of Protara Therapeutics in the 2nd quarter worth about $49,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Protara Therapeutics in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Stock Performance

TARA stock opened at $5.11 on Wednesday. Protara Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $7.82. The company has a market capitalization of $276.35 million, a price-to-earnings ratio of -3.87 and a beta of 1.50. The business’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $5.61.

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

Protara Therapeutics Company Profile

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.