JonesTrading analyst Boris Peaker reiterated a Buy rating on Protara Therapeutics yesterday and set a price target of $25.00.
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Boris Peaker has given his Buy rating due to a combination of factors, primarily the strong and durable efficacy seen with TARA-002 in the STARBORN-2 trial for lymphatic malformations. The high response rates, including a meaningful proportion of complete volume reductions, together with consistent outcomes over time, support his confidence that the program can progress toward an accelerated approval pathway.
Boris Peaker’s rating is based on the favorable safety profile of TARA-002 compared with legacy agent OK-432 and the substantial unmet need in lymphatic malformations, where no U.S. approved therapies currently exist. With a clear clinical development timeline, a planned BLA submission following constructive FDA interactions, and a sizable market opportunity, he views the risk-reward profile as attractive at current levels, justifying a Buy recommendation and a $25 price target.
In another report released on May 18, J.P. Morgan also maintained a Buy rating on the stock with a $26.00 price target.