Cantor starts Protara with Overweight, sees ‘multi-bagger potential’

Cantor Fitzgerald initiated coverage of Protara Therapeutics (TARA) with an Overweight rating and no price target The firm sees “multi-bagger potential” for the shares this year ahead of data updates from IV choline in parenteral support and TARA-002 in non-muscle invasive bladder cancer. While investors are focusing on TARA-002, IV choline “may be an equally, if not more compelling opportunity,” the analyst tells investors in a research note. Cantor sees an over 90% probability of success for a Phase 2b/3 win, and $400M-$500M of unadjusted peak sales in a market with little competition. This alone can support 3-4 times the current valuation, contends the firm.