Oppenheimer Lowers Protara Therapeutics (NASDAQ:TARA) Price Target to $25.00

Protara Therapeutics (NASDAQ:TARA) had its price target reduced by equities research analysts at Oppenheimer from $30.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Thursday, August 8th.

Protara Therapeutics Stock Down 1.5 %

TARA stock opened at $1.91 on Monday. The company has a market cap of $39.33 million, a price-to-earnings ratio of -0.51 and a beta of 1.85. Protara Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.24. The business has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.99.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.37. On average, equities research analysts anticipate that Protara Therapeutics will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 70,885 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $3.25, for a total transaction of $230,376.25. Following the completion of the sale, the insider now owns 126,050 shares of the company’s stock, valued at approximately $409,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 248,588 shares of company stock valued at $671,847. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TARA. Oppenheimer & Co. Inc. acquired a new position in shares of Protara Therapeutics in the first quarter valued at approximately $40,000. Renaissance Technologies LLC lifted 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 worth $313,000 after purchasing an additional 65,800 shares during the last quarter. Finally, Ikarian Capital LLC boosted its stake in Protara Therapeutics by 7.4% in the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after purchasing an additional 14,037 shares during the period. 38.13% of the stock is 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.