Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Protara Therapeutics (TARA – Research Report), retaining the price target of $22.00.
Charles Zhu has given his Buy rating due to a combination of factors that highlight Protara Therapeutics’ promising clinical progress and potential. The recent interim data from the ADVANCED-2 study, which evaluates TARA-002 in patients with non-muscle invasive bladder cancer (NMIBC), shows encouraging results. Particularly, the 12-month durability data, despite a small sample size, is promising with high complete response rates in both BCG-unresponsive and BCG-naive patients.
Moreover, the complete response rates for TARA-002 are comparable to those of leading investigational therapies, suggesting its potential to become a compelling treatment option. The management’s confidence is further bolstered by the accelerated enrollment in the study, which is on track to meet its target by the end of 2025. Additionally, the company’s strategic approach to reinduction and mandatory biopsy protocols underscores their commitment to robust clinical outcomes. These factors collectively contribute to the positive outlook and the Buy rating for Protara Therapeutics.
In another report released on April 16, Scotiabank also initiated coverage with a Buy rating on the stock with a $12.00 price target.