Cantor Fitzgerald Thinks Cara Therapeutics’ Stock is Going to Recover


In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on Cara Therapeutics (CARA), with a price target of $27. The company’s shares opened today at $13.01, close to its 52-week low of $11.46.

Duncan wrote:

“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. A significant partnership signed with Fresenius, a worldwide provider of hemodialysis services, validates the clinical and commercial potential. Clinical success in CKD-aP could translate to other indications associated with pruritus, which should expand KORSUVA’s market opportunity. We look for increasingly visible P3 progress and data from ongoing pruritus studies to fuel NTM outperformance.”

According to TipRanks.com, Duncan has 0 stars on 0-5 star ranking scale with an average return of -4.2% and a 39.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Cara Therapeutics is a Strong Buy with an average price target of $26.50, representing a 103.7% upside. In a report issued on December 20, Janney Montgomery also initiated coverage with a Buy rating on the stock.

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The company has a one-year high of $24.30 and a one-year low of $11.46. Currently, Cara Therapeutics has an average volume of 587.6K.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CARA in relation to earlier this year. Most recently, in November 2018, Frederique Ph Menzaghi, the Sr VP-Research & Development of CARA bought 10,000 shares for a total of $22,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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