HC Wainwright Issues Pessimistic Estimate for TARA Earnings

Protara Therapeutics, Inc. (NASDAQ:TARA) – Equities researchers at HC Wainwright reduced their FY2024 earnings estimates for Protara Therapeutics in a research report issued on Thursday, November 14th. HC Wainwright analyst A. Fein now expects that the company will post earnings per share of ($2.27) for the year, down from their prior estimate of ($2.22). HC Wainwright currently has a “Buy” rating and a $23.00 price objective 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.

Separately, Oppenheimer lowered their price target on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, August 12th.

Protara Therapeutics Price Performance

Protara Therapeutics stock opened at $2.32 on Monday. Protara Therapeutics has a one year low of $1.04 and a one year high of $5.24. The business’s fifty day moving average is $2.06 and its 200 day moving average is $2.27. The stock has a market capitalization of $47.86 million, a PE ratio of -0.82 and a beta of 1.77.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50).

Insiders Place Their Bets

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction of $55,746.00. Following the sale, the insider now directly owns 51,500 shares of the company’s stock, valued at $88,065. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Protara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in Protara Therapeutics in the 1st quarter worth approximately $40,000. Ikarian Capital LLC lifted its holdings in shares of 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 buying an additional 14,037 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after acquiring an additional 65,800 shares during the last quarter. Marshall Wace LLP purchased a new position in Protara Therapeutics during the second quarter valued at $161,000. Finally, Armistice Capital LLC bought a new stake in Protara Therapeutics in the 2nd quarter valued at $1,082,000. Institutional investors 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.