Guggenheim Reaffirms “Buy” Rating for Protara Therapeutics (NASDAQ:TARA)

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating reaffirmed by Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $20.00 price target on the stock. Guggenheim’s price objective suggests a potential upside of 238.41% from the company’s previous close.

Several other equities research analysts have also recently weighed in on TARA. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research report on Friday. 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 report on Monday, August 12th.

Protara Therapeutics Stock Performance

TARA opened at $5.91 on Friday. The company has a market capitalization of $121.92 million, a P/E ratio of -2.10 and a beta of 1.78. Protara Therapeutics has a 1-year low of $1.37 and a 1-year high of $10.48. The company has a 50-day moving average of $2.43 and a 200-day moving average of $2.29.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). As a group, sell-side analysts expect that Protara Therapeutics will post -2.99 earnings per share 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 completion of the transaction, the insider now owns 51,500 shares in the company, valued at approximately $88,065. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Protara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $313,000 after purchasing an additional 65,800 shares in the last quarter. Marshall Wace LLP acquired a new stake in Protara Therapeutics in the 2nd quarter valued at $161,000. Armistice Capital LLC bought a new stake in Protara Therapeutics in the second quarter valued at $1,082,000. CVI Holdings LLC acquired a new position in Protara Therapeutics during the second quarter worth $630,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock valued at $328,000 after acquiring an additional 51,944 shares during the period. Institutional investors own 38.13% of the company’s stock.

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.