Protara Therapeutics price target raised to $30 from $26 at Oppenheimer

Oppenheimer raised the firm’s price target on Protara Therapeutics to $30 from $26 and keeps an Outperform rating on the shares. Earlier this month, Protara reported impressive three-month complete response data from its ongoing studies of TARA-002 in patients with high-risk non-muscle invasive bladder cancer and announced an oversubscribed $45M PIPE with several well-regarded life science funds, the firm notes. Oppenheimer believes the clinical results further support 002’s potential to become an important product in the multi-billion-dollar U.S. therapeutic market implied by this disease population and increase our enthusiasm ahead of initial six-month Phase 2 data, to come in the second half of the year. Cash runway now extends into 2026.