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

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $23.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 289.17% from the stock’s current price.

Separately, Oppenheimer decreased their price target on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th.

Protara Therapeutics Stock Down 1.8 %

Shares of Protara Therapeutics stock opened at $5.91 on Friday. Protara Therapeutics has a twelve month low of $1.37 and a twelve month high of $10.48. The business has a 50-day moving average price of $2.43 and a 200-day moving average price of $2.29. The firm has a market cap of $121.92 million, a price-to-earnings ratio of -2.10 and a beta of 1.78.

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

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. sold 32,600 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the sale, the insider now owns 51,500 shares of the company’s stock, valued at approximately $88,065. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several hedge funds have recently added to or reduced their stakes in TARA. Geode Capital Management LLC lifted its stake in Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after purchasing an additional 29,514 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the third quarter worth approximately $60,000. Oppenheimer & Co. Inc. lifted its stake in shares of Protara Therapeutics by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after acquiring an additional 51,944 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Protara Therapeutics by 77.8% during the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $313,000 after acquiring an additional 65,800 shares during the period. Finally, Marshall Wace LLP bought a new position in Protara Therapeutics in the 2nd quarter valued at $161,000. 38.13% of the stock is currently owned by 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.