In a research note issued Friday, Cantor analyst Chiara Russo reiterated an Overweight rating on shares of Cara Therapeutics Inc (NASDAQ:CARA), while lowering her price target slightly to $25 (from $26), mainly on the recent share dilution. However, “With the recent capital raise, we feel this helps lift a funding overhang on several key clinical programs,” the analyst noted.

Cara hosted a quarterly conference call yesterday to provide a corporate update. The drug maker reiterated on its call that it expects data readout from its Phase 2b osteoarthritis (OA) trial of oral ‘845 (now fully enrolled) as well as an interim look at the Phase 3 post-op pain trial for IV ‘845, both in Q2.

“Following a positive start to 2Q17, additional catalysts could continue to add value. PK data for the oral formulation of CR845 in UP is expected in 2Q17. This should be informative to dosage strength and severity of disease. The oral formulation for OA pain in a Phase 2b is expected in 2Q17, which we believe is what most investors will be paying attention to. The interim analysis of the Phase 3 IV CR845 trial in post-op pain also looks to read out in June, though most of the trial data will be remain blinded until completion. Additionally, CARA looks to initiate a long-term safety study in IV CR845 for UP in 2Q17. Next up: KOL event in NY on 5/16/17,” Russo wrote,

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chiara Russo has a yearly average return of 1.8% and a 42% success rate. Russo has an 105% average return when recommending CARA, and is ranked #2006 out of 4561 analysts.

All the 7 analysts polled by TipRanks (in the past 12 months) rate Cara stock a Buy. With a return potential of 83%, the stock’s consensus target price stands at $26.43.