Protara Therapeutics (NASDAQ:TARA) Earns Outperform Rating from Analysts at Lifesci Capital

Stock analysts at Lifesci Capital began coverage on shares of Protara Therapeutics (NASDAQ:TARA) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Lifesci Capital’s price objective suggests a potential upside of 486.67% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Guggenheim reaffirmed a “buy” rating and set a $20.00 price objective on shares of Protara Therapeutics in a research report on Friday, December 6th. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research note on Thursday, March 6th.

Protara Therapeutics Stock Down 6.7 %

Protara Therapeutics stock opened at $3.75 on Tuesday. Protara Therapeutics has a 12 month low of $1.60 and a 12 month high of $10.48. The company’s fifty day simple moving average is $4.53 and its 200-day simple moving average is $3.44. The stock has a market cap of $77.36 million, a P/E ratio of -1.33 and a beta of 1.69.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.09. On average, equities research analysts expect that Protara Therapeutics will post -3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Protara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new position in Protara Therapeutics in the 4th quarter worth $11,030,000. Velan Capital Investment Management LP grew its position in shares of Protara Therapeutics by 175.1% in the fourth quarter. Velan Capital Investment Management LP now owns 1,579,000 shares of the company’s stock valued at $8,337,000 after purchasing an additional 1,005,000 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Protara Therapeutics in the fourth quarter worth about $110,000. Millennium Management LLC lifted its position in shares of Protara Therapeutics by 2,479.2% during the 4th quarter. Millennium Management LLC now owns 371,453 shares of the company’s stock worth $1,961,000 after purchasing an additional 357,051 shares during the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in Protara Therapeutics during the 4th quarter valued at approximately $7,392,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

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.