Protara Prices 13.04M Shares at $5.75, Raising $75M for Clinical Development
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 1 hour ago0mins
- Offering Size: Protara Therapeutics announced the pricing of 13,043,479 shares at $5.75 each, raising approximately $75 million, which will provide crucial funding for its clinical programs.
- Additional Option: The underwriters have a 30-day option to purchase an additional 1,956,521 shares, which, if exercised, will further enhance the company's financing capacity to support its research in cancer and rare diseases.
- Use of Proceeds: The net proceeds from this offering will be directed towards the clinical development of TARA-002 and other clinical programs, indicating the company's strong commitment to its R&D pipeline aimed at bringing innovative therapies to market.
- Underwriting Team: J.P. Morgan, TD Cowen, and Piper Sandler are acting as joint book-running managers, reflecting market confidence in Protara and potentially enhancing its reputation among investors.
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Analyst Views on TARA
Wall Street analysts forecast TARA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TARA is 23.33 USD with a low forecast of 21.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 6.800
Low
21.00
Averages
23.33
High
26.00
Current: 6.800
Low
21.00
Averages
23.33
High
26.00
JonesResearch
Soumit Roy
Buy
initiated
$21
2025-05-22
Reason
JonesResearch
Soumit Roy
Price Target
$21
2025-05-22
initiated
Buy
Reason
Scotiabank
George Farmer
Buy
Initiates
$12
2025-04-16
Reason
Scotiabank
George Farmer
Price Target
$12
2025-04-16
Initiates
Buy
Reason
Cantor Fitzgerald
Li Watsek
Buy
Initiates
n/a
2025-03-14
Reason
Cantor Fitzgerald
Li Watsek
Price Target
n/a
2025-03-14
Initiates
Buy
Reason
Cantor Fitzgerald analyst Li Watsek initiated coverage of Protara Therapeutics with an Overweight rating.
HC Wainwright & Co.
Andrew Fein
Strong Buy
Reiterates
$23
2025-03-06
Reason
HC Wainwright & Co.
Andrew Fein
Price Target
$23
2025-03-06
Reiterates
Strong Buy
Reason
See All Ratings
About TARA
Protara Therapeutics, Inc. is a clinical-stage biotechnology company, which is engaged in advancing transformative therapies for people with cancer and rare diseases. The Company’s portfolio includes its lead candidate, TARA-002, an investigational cell-based therapy in development for the treatment of non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs). The Company is evaluating TARA-002 in an ongoing Phase II trial in NMIBC patients with carcinoma in situ (CIS) who are unresponsive or naive to treatment with Bacillus Calmette-Guerin (BCG), as well as a Phase II trial in pediatric patients with LMs. In addition, the Company is developing IV Choline Chloride, an investigational phospholipid substrate replacement for patients on parenteral nutrition who are otherwise unable to meet their choline needs via oral or enteral routes.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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