# Protara Therapeutics, Inc. (TARA)

> Source: Nexqual · https://nexqual.com/TARA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Protara Therapeutics, Inc. (TARA), nexqual.com/TARA" · informational, not investment advice.

**Price:** USD 2.44 (-2.40% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 2.5 · day 2.42–2.53 · 52w 2.3–7.82 · market cap $144M · NGM

## Key facts
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $888K; 1 not under a Rule 10b5-1 plan ($882K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.75 on a 1–5 scale) (8 analysts), mean target USD 25.71 (range 20–30).
- Total return with dividends: 1Y -52.7% vs S&P 500 +14.9%; 5Y -63.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-10, EPS estimate USD -0.36, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$47.5M | -$67.1M | -$43.6M | -$49.2M | -$64.5M | -$76.8M |
| Net income | -$47.3M | -$66.0M | -$40.4M | -$44.6M | -$57.4M | -$70.0M |
| EPS (diluted) | -$4.21 | -$5.86 | -$3.57 | -$2.17 | -$1.34 | — |
| Free cash flow | -$35.1M | -$26.6M | -$37.6M | -$35.9M | -$56.5M | — |
| Cash + short-term investments | $91.2M | $84.4M | $65.6M | $170M | $156M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 0.9x · Earnings yield -48.56%

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-29 | Shefferman Jesse | CEO and President | 215,687 | $882K | 17.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-08 | Zummo Jacqueline | Chief R&D Officer | 1,134 | $6K | 1.2% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 8 analysts; mean target USD 25.71 (low 20, high 30).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -52.7% | -63.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -52.8% | -18.3% |
| Volatility (annualized) | 74.5% | 75.2% |
| Max drawdown | -69.3% (Nov 2025→Oct 2026) | -84.3% (Nov 2021→Nov 2023) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 90.9 +2.57% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · ABVX (Abivax SA) USD 90.23 -3.49%

## More
Full page: https://nexqual.com/TARA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TARA's own 10-K filed 2026-03-10 (https://www.sec.gov/Archives/edgar/data/1359931/000121390026025433/ea0277639-10k_protara.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Merck (MRK) | "For example, the current standard of care for NMIBC includes intravesical BCG TICE (manufactured by Merck & Co., Inc.)." |
| Partner | Chugai Pharmaceutical | "Under the agreement with Chugai Pharmaceutical, we have sole responsibility for the development and commercialization of TARA-002 worldwide," |

## Company outlook (8-K filed 2026-08-11)

- "The redesigned ADVANCED-3 protocol is expected to accelerate and expand the breadth of data available at or around the time of the potential launch of TARA-002 in BCG-Unresponsive carcinoma in situ (CIS) patients.”"
- "We recently presented encouraging interim durability and safety data from the STARBORN-1 pivotal trial of TARA-002 in Lymphatic Malformations (LMs) and, following discussions with the FDA, expect to submit our Biologics License Application (BLA) in the second half of 2027."
- "At the same time, enrollment in the THRIVE-3 registrational trial evaluating IV Choline Chloride continues as planned, with interim results expected in the fourth quarter of this year."
- "IV Choline Chloride for Patients on Parenteral Support (PS) ● THRIVE-3, the Company's registrational Phase 3 clinical trial, is ongoing, and the Company expects to report interim results in the fourth quarter of 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.36 | $-0.33 | +9.7% | $0 | 6 |
| Next quarter (ends 2026-12-31) | $-0.38 | $-0.34 | +9.5% | $0 | 6 |
| Current fiscal year (ends 2026-12-31) | $-1.39 | $-1.39 | +0.4% | $0 | 6 |
| Next fiscal year (ends 2027-12-31) | $-1.69 | $-1.64 | +2.9% | $1.0M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-10): ±21.7%; last 8 reports averaged ±7.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 90.0% | ±21.7% |
| 2027-02-19 | 119 | 88.0% | ±43.5% |
| 2027-05-21 | 210 | 114.7% | ±66.5% |