H.C. Wainwright has reiterated a Buy rating and $27.00 price target on tara-therapeutics" class="internal-tag-link">Protara Therapeutics (NASDAQ:TARA) shares, implying significant upside from the current price of $4.34.
The stock has fallen 16.5% over the past week, but analyst sentiment remains strong with a consensus rating of 1.25 and price targets ranging from $24 to $30.
The firm's commentary followed a Protara-hosted webinar on lymphatic malformations, detailing the regulatory path, interim STARBORN-1 data, unmet need, and commercial opportunity for TARA-002.
H.C. Wainwright noted that current treatments for macrocystic and mixed cystic lymphatic malformations include ethanol, bleomycin, doxycycline, other sclerosants, and surgery, which are used off-label and carry safety risks.
Interim STARBORN-1 data showed that 83% of treated patients who completed treatment achieved clinical success, defined as complete response (90-100% volume reduction) or substantial response (60-90% reduction).
The firm stated that TARA-002 builds on decades of OK-432 experience, with modern manufacturing improving batch control, consistency, and regulatory readiness.
In other recent news, Protara released updated data from its Phase 2 ADVANCED-2 trial of TARA-002 for non-muscle invasive bladder cancer. The 12-month complete response rate was 55% among 29 evaluable patients, with a six-month rate of 66.7%. Additionally, a 68% six-month complete response rate was confirmed for BCG-unresponsive patients.
This milestone satisfies conditions for the company's stock purchase warrants issued in April 2024. Protara will present findings at the American Urological Association Annual Meeting.
TD Cowen reiterated a Buy rating with a $30.00 target, while JPMorgan initiated coverage with an Overweight rating and $27.00 target.
