Protara Therapeutics’ (TARA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a $23.00 target price on the stock.

Separately, Oppenheimer lowered their price objective 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 Performance

Shares of TARA stock opened at $2.47 on Thursday. The firm has a market capitalization of $50.96 million, a PE ratio of -0.88 and a beta of 1.77. Protara Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.24. The stock has a fifty day moving average of $2.04 and a two-hundred day moving average of $2.29.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). Equities research analysts predict that Protara Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. sold 36,492 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $1.89, for a total transaction of $68,969.88. Following the completion of the sale, the insider now directly owns 54,600 shares of the company’s stock, valued at $103,194. This represents a 40.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in shares of Protara Therapeutics in the 2nd quarter worth $1,082,000. CVI Holdings LLC purchased a new position in Protara Therapeutics in the 2nd quarter worth about $630,000. Marshall Wace LLP acquired a new stake in Protara Therapeutics during the 2nd quarter worth about $161,000. Renaissance Technologies LLC lifted its stake 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 buying an additional 65,800 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Protara Therapeutics by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after buying 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.