Scotiabank Initiates Coverage on Protara Therapeutics (NASDAQ:TARA)

Scotiabank began coverage on shares of Protara Therapeutics (NASDAQ:TARA - Free Report) in a research report released on Wednesday, Marketbeat reports. The firm issued a sector outperform rating and a $12.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Protara Therapeutics in a research note on Friday, March 14th. They set an "overweight" rating on the stock. HC Wainwright restated a "buy" rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Thursday, March 6th. Finally, Lifesci Capital began coverage on shares of Protara Therapeutics in a research note on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $20.40.

Protara Therapeutics Trading Down 0.3 %

Shares of NASDAQ:TARA traded down $0.01 during trading on Wednesday, reaching $3.89. The stock had a trading volume of 112,753 shares, compared to its average volume of 768,011. Protara Therapeutics has a one year low of $1.60 and a one year high of $10.48. The firm's 50-day simple moving average is $4.04 and its 200 day simple moving average is $3.92. The company has a market capitalization of $143.02 million, a P/E ratio of -1.38 and a beta of 1.60.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.09. Equities research analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total transaction of $96,144.72. Following the completion of the transaction, the insider now directly owns 98,861 shares in the company, valued at approximately $447,840.33. This represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TARA. HBK Investments L P purchased a new stake in Protara Therapeutics during the 4th quarter worth approximately $106,000. Squarepoint Ops LLC purchased a new position in Protara Therapeutics in the 4th quarter valued at $110,000. Dimensional Fund Advisors LP acquired a new stake in Protara Therapeutics during the 4th quarter worth $111,000. Bailard Inc. purchased a new stake in shares of Protara Therapeutics during the fourth quarter worth $157,000. Finally, XTX Topco Ltd acquired a new stake in shares of Protara Therapeutics in the third quarter valued at about $60,000. Institutional investors and hedge funds own 38.13% 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.