JonesTrading analyst Soumit Roy has maintained their bullish stance on TARA stock, giving a Buy rating today.
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Soumit Roy has given his Buy rating due to a combination of factors surrounding Protara Therapeutics’ promising developments with their drug TARA-002. The drug is being tested for its efficacy in treating lymphatic malformations (LMs), a space that is seeing increased investor interest. TARA-002 is derived from OK-432, a drug that has been the standard of care in Japan for over 25 years, demonstrating significant efficacy and a favorable safety profile in treating macrocystic and mixed LM lesions.
Roy anticipates that the upcoming data presentation from the Phase 2 STARBORN-1 trial will further validate TARA-002’s effectiveness, similar to its predecessor OK-432. The trial is expected to provide insights into the drug’s response rates and patient characteristics, which could bolster confidence in its potential. Additionally, Protara’s strategic moves, such as opening multiple trial sites in the U.S. and focusing on enrolling younger patients, indicate a robust approach to advancing their LM program.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $23.00 price target.