Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Protara Therapeutics, retaining the price target of $26.00.
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Charles Zhu has given his Buy rating due to a combination of factors surrounding Protara Therapeutics’ promising developments with TARA-002. The company has shown encouraging results in its Phase 2 ADVANCED-2 trial for BCG-naive non-muscle invasive bladder cancer (NMIBC), with a significant complete response rate. This is particularly noteworthy as the FDA has approved a registration path that bypasses BCG, which is in short supply and poses certain risks, offering a potentially safer and more accessible treatment option.
Moreover, the potential market opportunity is substantial, given that a notable percentage of patients eligible for BCG do not receive it. The company’s strategic positioning and the expert endorsement from key opinion leaders like Dr. Neal Shore further bolster confidence in TARA-002’s market potential. These factors, combined with the ongoing progress in their clinical trials, underpin Zhu’s optimistic outlook and Buy recommendation.
According to TipRanks, Zhu is a 5-star analyst with an average return of 27.8% and a 64.47% success rate. Zhu covers the Healthcare sector, focusing on stocks such as Zymeworks, Kura Oncology, and IDEAYA Biosciences.
In another report released on November 24, H.C. Wainwright also reiterated a Buy rating on the stock with a $23.00 price target.