FY2024 EPS Forecast for Protara Therapeutics Cut by Analyst

Protara Therapeutics, Inc. (NASDAQ:TARA) – Analysts at HC Wainwright reduced their FY2024 EPS estimates for Protara Therapeutics in a research report issued to clients and investors on Thursday, November 14th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of ($2.27) for the year, down from their prior forecast of ($2.22). HC Wainwright 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.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50).

Separately, Oppenheimer cut their price target on shares of 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 Stock Down 6.5 %

NASDAQ:TARA opened at $2.31 on Monday. The stock has a market cap of $47.66 million, a P/E ratio of -0.82 and a beta of 1.77. The firm’s fifty day simple moving average is $2.05 and its 200 day simple moving average is $2.28. Protara Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.24.

Insider Buying and Selling at Protara Therapeutics

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction 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 trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics in the 1st quarter worth about $40,000. Renaissance Technologies LLC raised its position in shares of Protara Therapeutics by 77.8% in 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. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics in the 2nd quarter worth about $161,000. CVI Holdings LLC purchased a new position in shares of Protara Therapeutics in the 2nd quarter worth about $630,000. Finally, Ikarian Capital LLC raised its position in shares of Protara Therapeutics by 7.4% in the 1st 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. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.