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 stemming from Protara Therapeutics’ recent positive interim data from their Phase 2 STARBORN-1 trial. The trial results showed that TARA-002, used for treating macrocystic and mixed lymphatic malformations, demonstrated significant efficacy with 83% of patients achieving a complete response and 80% achieving clinical success. Additionally, TARA-002 was well-tolerated, with only mild-to-moderate adverse effects reported, which aligns with the efficacy seen in the similar drug OK-432 approved in Japan.
Roy’s confidence in TARA-002 is further bolstered by its potential to address the needs of LM patients who primarily seek treatment for disfigurement, flare-up prevention, and pain reduction. The treatment’s ability to substantially reduce cysts and lower recurrence chances positions it favorably against small molecule targeted therapies, which face challenges in treating macrocytic LMs. Despite uncertainties regarding FDA’s reaction to the interim data, Roy maintains that TARA-002 is a highly effective and de-risked option for LM patients, supporting his Buy rating.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $23.00 price target.