Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Protara Therapeutics (TARA – Research Report). The associated price target is $21.00.
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Soumit Roy has given his Buy rating due to a combination of factors related to Protara Therapeutics’ promising developments in addressing the challenges faced in the treatment of high-risk non-muscle invasive bladder cancer (NMIBC). The persistent shortage of BCG, a critical component in NMIBC treatment, has created a significant demand for alternative therapies. Protara’s TARA-002 has shown potential as a viable substitute, demonstrating similar efficacy and a slightly improved safety profile compared to BCG in early trials.
Roy highlights that while more mature data from ongoing Phase 2 trials is needed to fully validate TARA-002’s effectiveness, the initial results are promising. The drug’s mechanism of action as a bacterial immunopotentiator aligns with the needs of the current treatment landscape, offering hope for better management of NMIBC. These factors, combined with the potential market opportunity due to BCG shortages, underpin Roy’s optimistic outlook and Buy rating for Protara Therapeutics.
TARA’s price has also changed slightly for the past six months – from $3.540 to $3.220, which is a -9.04% drop .
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