Brokerages Set Protara Therapeutics, Inc. (NASDAQ:TARA) Price Target at $20.40

Protara Therapeutics, Inc. (NASDAQ:TARA) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.40.

TARA has been the topic of several recent analyst reports. Piper Sandler initiated coverage on shares of Protara Therapeutics in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Wednesday, October 8th.

Protara Therapeutics Price Performance

NASDAQ:TARA opened at $5.60 on Friday. The firm has a market capitalization of $289.13 million, a price-to-earnings ratio of -3.92 and a beta of 1.42. Protara Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.82. The business has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $4.54.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Monday, November 10th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08. As a group, analysts expect that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

A number of large investors have recently bought and sold shares of TARA. Los Angeles Capital Management LLC purchased a new stake in Protara Therapeutics in the second quarter worth $47,000. Geode Capital Management LLC grew its holdings in shares of Protara Therapeutics by 114.7% in the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock worth $2,256,000 after purchasing an additional 397,822 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Protara Therapeutics in the 2nd quarter worth about $30,000. Intech Investment Management LLC bought a new stake in Protara Therapeutics during the 2nd quarter valued at about $49,000. Finally, JPMorgan Chase & Co. purchased a new stake in Protara Therapeutics in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.