In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on Cara Therapeutics (NASDAQ: CARA), with a price target of $27. The company’s shares closed yesterday at $22.62, close to its 52-week high of $24.30.
“Compelling P2 safety and clinical activity data have been used to guide the design and risk-reduce pivotal P3 studies of IV KORSUVA in CKD-aP hemodialysis pts, from which we expect data in 2019. Our conviction for this program is bolstered by the significant partnership signed with a worldwide provider of hemodialysis services, which we believe validates the clinical and commercial potential. In addition, clinical success in CKD-aP could translate to other indications associated with pruritus, such as chronic liver disease, which should expand KORSUVA’s market opportunity.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.4% and a 49.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Cara Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $26.60.
The company has a one-year high of $24.30 and a one-year low of $11.11. Currently, Cara Therapeutics has an average volume of 781.8K.
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CARA Therapeutics, Inc. engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.