H.C. Wainwright reiterates Buy rating on Protera Therapeutics stock at $23

Investing.com - H.C. Wainwright maintained its Buy rating and $23.00 price target on Protera Therapeutics (NASDAQ:TARA) stock, which currently trades at $5.07 with a market cap of $196 million. The stock has shown remarkable strength, delivering a 200% return over the past year. The firm highlighted the company’s development pipeline beyond its non-muscle invasive bladder cancer (NMIBC) program.

The research firm emphasized the value of Protera’s intravenous (IV) choline chloride franchise, which it described as a "de-risked, mechanistically validated rare-disease therapy" for intestinal-failure associated liver disease (IFALD) in patients requiring long-term parenteral support. According to InvestingPro data, the company maintains a strong financial health score of 2.65 (rated as "GOOD") and holds more cash than debt on its balance sheet.

H.C. Wainwright noted that choline deficiency in total parenteral nutrition (TPN) patients disrupts lipid export, leading to hepatic steatosis and progressive liver injury, citing research from Dr. Alan Buchman of Northwestern University that demonstrated reversibility of hepatic injury following IV choline repletion.

Data reanalysis from Buchman’s 2001 study confirmed 31-54% reductions in hepatic fat fraction, sustained alkaline phosphatase (ALP) improvement through Week 24, and normalization of plasma choline levels, according to the research note.

The upcoming THRIVE-3 registrational trial, which has received both Orphan Drug and Fast Track designations, will evaluate plasma choline normalization as the primary endpoint with ALP and MRI-PDFF serving as supportive hepatic biomarkers. With analyst targets ranging from $21 to $30, and a strong consensus recommendation of 1.17 (where 1 is a Strong Buy), investors can access more detailed analysis and 14 additional key insights through InvestingPro.

In other recent news, Protera Therapeutics has received a reaffirmed Buy rating from H.C. Wainwright, maintaining a price target of $23.00. The firm emphasizes the company’s lymphatic malformation (LM) program as an overlooked asset, in addition to its primary focus on non-muscle invasive bladder cancer (NMIBC). The analysis by H.C. Wainwright comes as Protera prepares for its STARBORN-1 update, anticipated in the fourth quarter of 2025. This update will provide expanded data on TARA-002, which is Protera’s standardized, GMP-manufactured formulation of OK-432 (Picibanil) for treating macrocystic and mixed lymphatic malformations. These developments highlight ongoing efforts and potential future milestones for Protera Therapeutics.

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