Protara Therapeutics initiated with an Outperform at Scotiabank

Scotiabank analyst George Farmer initiated coverage of Protara Therapeutics (TARA) with an Outperform rating and $12 price target The company is developing a novel treatment for nonmuscle invasive bladder cancer, which the firm believes represents a “massive commercial opportunity,” the analyst tells investors. As of now, no therapeutic approach stands out to us as a particular winner, which the firm thinks will be driving investor debate through 2027, but it believes the NMIBC market, which is “just beginning to be meaningfully tapped, could generate billions of dollars in sales over the next decade.