Protara Therapeutics (NASDAQ:TARA – Get Free Report) announced its earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03), FiscalAI reports.
Protara Therapeutics Trading Down 4.2%
Shares of TARA stock opened at $3.94 on Tuesday. The firm has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $5.07. The company has a market capitalization of $221.32 million, a PE ratio of -2.93 and a beta of 1.50. Protara Therapeutics has a twelve month low of $2.97 and a twelve month high of $7.82.
Analysts Set New Price Targets
TARA has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. Oppenheimer boosted their price objective on shares of Protara Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. UBS Group restated a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.
Hedge Funds Weigh In On Protara Therapeutics
A number of institutional investors have recently added to or reduced their stakes in TARA. Persistent Asset Partners Ltd purchased a new position in Protara Therapeutics in the 4th quarter valued at about $57,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Protara Therapeutics during the fourth quarter worth about $59,000. AQR Capital Management LLC purchased a new stake in shares of Protara Therapeutics during the fourth quarter worth about $78,000. JPMorgan Chase & Co. acquired a new position in shares of Protara Therapeutics in the second quarter worth about $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Protara Therapeutics in the second quarter worth about $53,000. 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.
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