Protara Therapeutics (NASDAQ:TARA) Issues Quarterly Earnings Results

Protara Therapeutics (NASDAQ:TARA) posted its quarterly earnings results on Tuesday. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.37, Zacks reports.

Protara Therapeutics Stock Performance

TARA traded down $0.10 during trading on Wednesday, reaching $1.97. The company’s stock had a trading volume of 141,458 shares, compared to its average volume of 234,121. The company’s fifty day moving average price is $2.36 and its 200-day moving average price is $3.00. The company has a market capitalization of $40.56 million, a price-to-earnings ratio of -0.55 and a beta of 1.85. Protara Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.24.

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. sold 70,885 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $3.25, for a total value of $230,376.25. Following the sale, the insider now directly owns 126,050 shares in the company, valued at $409,662.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 279,188 shares of company stock worth $766,401. 12.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Oppenheimer boosted their price target on shares of Protara Therapeutics from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Monday, May 6th.

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.