In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Cara Therapeutics (CARA), with a price target of $30.00. The company’s shares closed last Monday at $15.03, close to its 52-week low of $12.63.
According to TipRanks.com, Livnat is a 3-star analyst with an average return of 2.8% and a 44.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Zynerba Pharmaceuticals, and Taiwan Liposome Company.
Currently, the analyst consensus on Cara Therapeutics is a Strong Buy with an average price target of $33.33, implying a 142.4% upside from current levels. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $30.00 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 $28.61 million. In comparison, last year the company had a GAAP net loss of $20.65 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.
