What is HC Wainwright’s Forecast for TARA FY2024 Earnings?

Protara Therapeutics, Inc. (NASDAQ:TARA) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share estimates for Protara Therapeutics in a note issued to investors on Thursday, November 14th. HC Wainwright analyst A. Fein now expects that the company will earn ($2.27) per share for the year, down from their previous forecast of ($2.22). HC Wainwright has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for Protara Therapeutics’ current full-year earnings is ($2.99) per share. HC Wainwright also issued estimates for Protara Therapeutics’ Q4 2024 earnings at ($0.54) EPS, Q1 2025 earnings at ($0.57) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.63) EPS, FY2025 earnings at ($2.39) EPS, FY2026 earnings at ($2.93) EPS, FY2027 earnings at ($2.96) EPS and FY2028 earnings at ($1.86) EPS.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50).

Separately, Oppenheimer decreased their price target on 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 Performance

Shares of NASDAQ TARA opened at $2.47 on Monday. The stock has a market capitalization of $50.96 million, a P/E ratio of -0.88 and a beta of 1.77. The stock’s fifty day moving average is $2.04 and its 200 day moving average is $2.28. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new stake in Protara Therapeutics in the first quarter worth approximately $40,000. XTX Topco Ltd acquired a new stake in shares of Protara Therapeutics during the 3rd quarter worth approximately $60,000. Marshall Wace LLP bought a new stake in shares of Protara Therapeutics in the 2nd quarter valued at $161,000. Renaissance Technologies LLC lifted its position in shares of 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, Geode Capital Management LLC boosted its stake in Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after acquiring an additional 29,514 shares in the last quarter. 38.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Opaleye Management Inc. sold 32,600 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction of $55,746.00. Following the completion of the transaction, the insider now directly owns 51,500 shares in the company, valued at $88,065. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.50% of the company’s stock.

Protara Therapeutics Company Profile

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.