HC Wainwright Analysts Decrease Earnings Estimates for TARA

Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) - Equities researchers at HC Wainwright lowered their FY2024 earnings per share estimates for Protara Therapeutics in a research report issued on Thursday, November 14th. HC Wainwright analyst A. Fein now forecasts that the company will earn ($2.27) per share for the year, down from their prior estimate of ($2.22). HC Wainwright has a "Buy" rating and a $23.00 price target 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 - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50).

Separately, Oppenheimer reduced their price objective on Protara Therapeutics from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, August 12th.

Protara Therapeutics Trading Down 6.5 %

TARA stock traded down $0.16 during midday trading on Monday, reaching $2.31. 150,637 shares of the company's stock traded hands, compared to its average volume of 216,957. The stock's 50-day moving average is $2.05 and its 200 day moving average is $2.28. The stock has a market cap of $47.66 million, a P/E ratio of -0.82 and a beta of 1.77. Protara Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.24.

Hedge Funds Weigh In On Protara Therapeutics

Large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new stake in shares of Protara Therapeutics in the first quarter valued at $40,000. Ikarian Capital LLC lifted its stake in Protara Therapeutics by 7.4% in the first quarter. Ikarian Capital LLC now owns 202,701 shares of the company's stock worth $813,000 after purchasing an additional 14,037 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company's stock valued at $311,000 after buying an additional 29,514 shares during the period. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the third quarter worth approximately $60,000. Finally, Renaissance Technologies LLC boosted its holdings in 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. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of the company's 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 of the company's stock, 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 is accessible through this link. 12.50% of the stock is currently owned by corporate insiders.

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.