Analyst Andres Y. Maldonado of H.C. Wainwright reiterated a Buy rating on Protara Therapeutics, retaining the price target of $23.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors including the promising interim data from Protara’s Phase 2 ADVANCED-2 trial for TARA-002 in BCG-naïve NMIBC patients. The trial showed significant efficacy with a complete response rate of 72% at any time and 69% at six months, alongside a strong safety profile with mostly mild adverse effects.
Furthermore, Protara’s engagement with the FDA has outlined a clear regulatory path forward, providing a potential first-mover advantage in the BCG-naïve market. The simplicity of TARA-002’s administration and its safety compared to existing treatments make it an attractive alternative, with the potential to integrate seamlessly into current medical practices. These factors collectively position TARA-002 to capture a significant share of the market, justifying the Buy rating and a price target of $23.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as Protara Therapeutics, Candel Therapeutics, and enGene Holdings. According to TipRanks, Y. Maldonado has an average return of 12.2% and a 50.57% success rate on recommended stocks.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $26.00 price target.