Protara Therapeutics (NASDAQ:TARA) Earns Buy Rating from Guggenheim

Protara Therapeutics (NASDAQ:TARA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at 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 target price would suggest a potential upside of 238.41% from the company's previous close.

TARA has been the subject of several other reports. Oppenheimer decreased their target price on shares of Protara Therapeutics from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. HC Wainwright reissued a "buy" rating and set a $23.00 price objective on shares of Protara Therapeutics in a report on Friday.

Protara Therapeutics Stock Performance

Shares of NASDAQ TARA traded down $0.11 during trading hours on Friday, reaching $5.91. 5,631,320 shares of the stock were exchanged, compared to its average volume of 225,026. The firm has a market capitalization of $121.92 million, a price-to-earnings ratio of -2.10 and a beta of 1.78. The stock's fifty day simple moving average is $2.43 and its 200 day simple moving average is $2.29. Protara Therapeutics has a 52 week low of $1.37 and a 52 week high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.50). Research analysts predict that Protara Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity at Protara Therapeutics

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total value of $55,746.00. Following the transaction, the insider now owns 51,500 shares of the company's stock, valued at approximately $88,065. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Protara Therapeutics

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings 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 buying an additional 29,514 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Protara Therapeutics during the 3rd quarter valued at approximately $60,000. Oppenheimer & Co. Inc. increased 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 purchasing an additional 51,944 shares during the last quarter. CVI Holdings LLC bought a new stake in shares of Protara Therapeutics in the 2nd quarter worth approximately $630,000. Finally, Armistice Capital LLC purchased a new position in Protara Therapeutics in the second quarter valued at approximately $1,082,000. 38.13% of the stock is currently owned by institutional investors.

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.