Protara Therapeutics (TARA) AI Stock Analysis

• Market Cap: $286.65M
• Dividend Yield: N/A
• Average Volume (3M): 1.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: N/A
• EPS Growth: 48.84%
• Country: US
• Employees: 28
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.37
• Shares Outstanding: 54,084,377
• 10 Day Avg. Volume: 833,154
• 30 Day Avg. Volume: 1,108,886
• PEG Ratio: 0.10
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.04
• Enterprise Value/Market Cap: 0.55
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -875.67
• Enterprise Value/Ebitda: -2.59
• 1Y Price Target: $25.71
• Price Target Upside: 385.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): -1.49
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: $5.50 ▲(3.77% Upside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is held down mainly by weak financial performance (no revenue, recurring losses, and ongoing cash burn) and soft technicals (price below key moving averages with negative MACD). Offsetting these are constructive corporate developments (positive Phase 2 update and clearer registrational path) and a stronger, low-debt balance sheet, while valuation support is limited due to negative earnings and no dividend.

Positive Factors

Clinical efficacy & registrational path

Robust, durable Phase 2 complete response rates and a defined plan to complete enrollment and initiate registrational trials materially de-risk the lead program. This strengthens the probability of a regulatory submission, enhances commercial positioning if approved, and supports long-term value creation tied to trial outcomes.

Multi-year cash runway

Nearly $198M of liquidity with guidance of runway into 2028 materially reduces near-term refinancing pressure and allows execution of registrational trials and mid-stage readouts. This gives management time to reach clinical inflection points before needing substantial additional capital, lowering short-to-medium-term funding risk.

Conservative leverage and stronger equity base

Low debt and a rebuilt equity base provide financial flexibility common to early-stage biotechs, enabling investment in development while containing default risk. Improved assets and equity from recent raises support operational continuity and strategic optionality through pivotal development stages without heavy interest burden.

Negative Factors

No product revenue (pre-commercial)

As a clinical-stage company with no product sales, Protara remains wholly dependent on successful trial outcomes to generate sustainable revenues. This structural lack of operating income means long-term value hinges on clinical/regulatory success and subsequent commercialization, increasing binary outcome risk for investors.

Consistent negative operating cash flow

Sustained negative operating and free cash flow indicates the business continuously funds operations via financing rather than internal generation. Rising cash burn in 2025 implies that even with current runway, escalating development costs or slower milestones could accelerate funding needs and stress liquidity in adverse scenarios.

Dependence on external financing / dilution risk

The company has demonstrated reliance on equity raises to fund operations. While funding supports trials today, repeated capital raises or unfavorable market conditions would dilute existing shareholders and could constrain strategic choices. Future trial setbacks would likely necessitate additional financing under less favorable terms.

Protara Therapeutics Business Overview & Revenue Model

Company Description

Protara Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in the identifying and advancing transformative therapies for the treatment of cancer and rare diseases. The company's lead program is TARA-002, an investigational cell therapy for the treatment of lymphatic malformations. It also develops intravenous choline chloride, an investigational phospholipid substrate replacement therapy for the treatment of intestinal failure associated liver disease. The company was formerly known as ArTara Therapeutics, Inc. and changed its name to Protara Therapeutics, Inc. in May 2020. Protara Therapeutics, Inc. is headquartered in New York, New York.

How the Company Makes Money

Protara Therapeutics is a clinical-stage company and generally does not generate recurring revenue from product sales because its programs are under development rather than broadly commercialized. Its funding and cash inflows have primarily come from financing activities such as issuing equity and/or other securities; revenue from selling approved products is null. Publicly available information in this prompt does not specify any material, recurring revenue streams from licensing/royalties, milestones, or commercial partnerships; therefore, details on such revenue sources are null. If the company enters collaborations in the future, potential monetization could include upfront payments, development/regulatory milestones, sales-based milestones, royalties, or profit-sharing, but current, company-specific partnership revenue details are null.

Protara Therapeutics Financial Statement Overview

Summary

Overall financial profile is weak due to no revenue, persistent operating losses, and consistently negative operating/free cash flow. The balance sheet is a relative positive with low leverage and improved equity/assets in 2024–2025, but the 2025 uptick in losses and cash burn keeps funding/dilution risk elevated.

Income Statement

Across 2020–2025 annual reports, the company reports no revenue and persistent operating losses, consistent with a pre-commercial biotechnology profile. Net losses remain sizable and volatile (improved in 2023–2024, then widened again in 2025), indicating limited operating leverage and continued reliance on external funding until commercialization or partnership revenue emerges. A key positive is that losses did narrow meaningfully from 2022 to 2024, but 2025 shows a re-acceleration in burn/expense intensity.

Balance Sheet

The balance sheet is a relative strength: debt is low across the period and leverage appears conservative (debt-to-equity is low in the years provided). Equity and total assets improved materially in 2024–2025 versus 2023, suggesting successful capital raises and/or balance-sheet rebuilding. The main weakness is structurally negative returns on equity driven by ongoing losses, and equity has also shown meaningful swings over time (notably the drop in 2023), which can signal dilution and funding-cycle dependence.

Cash Flow

Cash generation remains a concern: operating cash flow and free cash flow are negative every year shown, indicating the business is funding operations rather than self-funding them. Free cash flow improved in 2024 and the 2025 free cash flow decline was less severe than prior periods, but the absolute cash burn increased again in 2025 versus 2024. A mitigating factor is that free cash flow generally tracks net loss closely (cash burn is not materially worse than accounting losses), yet sustained negative cash flow keeps refinancing/dilution risk elevated.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-362.00K	0.00	-341.00K	0.00	0.00
EBITDA	-64.19M	-48.82M	-43.27M	-64.57M	-45.40M
Net Income	-57.44M	-44.60M	-40.42M	-65.95M	-47.25M
Balance Sheet
Total Assets	209.47M	181.45M	78.95M	113.29M	172.60M
Cash, Cash Equivalents and Short-Term Investments	155.55M	170.29M	65.58M	84.37M	91.23M
Total Debt	3.36M	4.48M	5.47M	6.38M	7.24M
Total Liabilities	13.06M	14.32M	10.63M	11.21M	10.68M
Stockholders Equity	196.41M	167.13M	68.32M	102.08M	161.91M
Cash Flow
Free Cash Flow	-56.46M	-35.87M	-37.60M	-26.58M	-35.10M
Operating Cash Flow	-56.37M	-35.81M	-37.56M	-26.46M	-34.50M
Investing Cash Flow	-139.49M	19.16M	53.11M	14.95M	-98.19M
Financing Cash Flow	82.72M	139.87M	-91.00K	-90.00K	-228.00K

Protara Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TARA, the sentiment is Negative. The current price of 5.3 is below the 20-day moving average (MA) of 5.85, below the 50-day MA of 6.09, and above the 200-day MA of 4.71, indicating a neutral trend. The MACD of -0.27 indicates Positive momentum. The RSI at 40.15 is Neutral, neither overbought nor oversold. The STOCH value of 19.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TARA.

Protara Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OBIO	52 Neutral	$271.54M	-3,008.78	-170.45%	―	6.46%	-14.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ZURA	51 Neutral	$527.69M	-4.97	-48.17%	―	―	-19.69%
PLX	50 Neutral	$179.67M	-21.41	-13.46%	―	35.42%	―
TARA	49 Neutral	$286.65M	-3.97	-36.38%	―	―	48.84%
SKYE	45 Neutral	$21.87M	-0.53	-143.59%	―	―	-53.18%
HURA	41 Neutral	$108.69M	-4.42	-193.06%	―	―	99.21%

Protara Therapeutics Corporate Events

Protara Highlights Strong Phase 2 Data for TARA-002

On February 23, 2026, Protara Therapeutics reported updated interim results from its ongoing Phase 2 open-label ADVANCED-2 trial of intravesical TARA-002 in high-risk non-muscle invasive bladder cancer with carcinoma in situ in patients who are BCG-unresponsive or BCG-naïve. The data, with a cutoff of January 28, 2026 and to be presented on February 27, 2026 at the ASCO Genitourinary Cancers Symposium, showed robust complete response rates and durability in both cohorts.

In the BCG-unresponsive cohort, TARA-002 achieved a complete response at any time in 65.7% of evaluable patients, with a 68.2% complete response rate at six months and indications of sustained responses through 12 months among those followed. In the BCG-naïve cohort, the complete response rate at any time reached 72.4%, with 66.7% at six months and 57.9% at 12 months, and re-induction converted a majority of initial non-responders in both groups.

Safety data showed a favorable tolerability profile, with most treatment-related adverse events being transient Grade 1 bladder and systemic symptoms, no Grade 3 or higher treatment-related events, no related serious adverse events, and no discontinuations due to toxicity. These results, coupled with streamlined intravesical administration, underscore TARA-002’s potential to become a meaningful addition to the non-muscle invasive bladder cancer treatment landscape and strengthen Protara’s clinical and commercial positioning.

Operationally, Protara indicated it expects to complete enrollment of the BCG-unresponsive registrational cohort of ADVANCED-2 in the second half of 2026, while enrollment in the BCG-naïve cohort is already complete with 31 patients. The company also plans to initiate the ADVANCED-3 registrational trial in BCG-naïve patients in the second half of 2026, signaling a clear path toward potential registration and heightening expectations among investors and clinicians monitoring this program.

The most recent analyst rating on (TARA) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on Protara Therapeutics stock, see the TARA Stock Forecast page.

Protara Therapeutics Raises $86.3 Million in Offering

On December 8, 2025, Protara Therapeutics completed a public offering of 13,043,479 shares of common stock at $5.75 per share, raising approximately $86.3 million in gross proceeds. The funds are intended to support the clinical development of TARA-002 and other programs, as well as general corporate purposes, potentially strengthening the company’s position in the biopharmaceutical industry.

The most recent analyst rating on (TARA) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Protara Therapeutics stock, see the TARA Stock Forecast page.