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After H.C. Wainwright and Needham gave Cara Therapeutics (NASDAQ: CARA) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan maintained a Buy rating on Cara Therapeutics yesterday and set a price target of $27. The company’s shares closed yesterday at $20.46.
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.3% and a 52.5% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cara Therapeutics with a $25.63 average price target, a 25.3% upside from current levels. In a report issued on April 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $26 price target.
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Based on Cara Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $20.65 million. In comparison, last year the company had a GAAP net loss of $16.77 million.
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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.
