Protara Therapeutics Q2 net loss widens on higher expenses

Protara Therapeutics said its second-quarter net loss widened year over year as operating expenses increased.

The company reported a second-quarter loss per share of $0.36 and a net loss of $21.67 million. Income from operations was -$23.32 million, and operating expenses were $23.32 million.

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", with no "hold" and no "sell" or "strong sell" ratings.

The average consensus recommendation for the biotechnology and medical research peer group is "buy". Wall Street's median 12-month price target for Protara Therapeutics is $26.50, about 544.8% above its August 10 closing price of $4.11.

Protara said increased research and development expenses were due to higher direct costs from ongoing clinical trials, increased personnel-related expenses, and manufacturing activities.