In a report released today, Alan Carr from Needham assigned a Buy rating to Cara Therapeutics (CARA), with a price target of $35.00. The company’s shares closed last Tuesday at $14.70.
According to TipRanks.com, Carr is a 1-star analyst with an average return of -3.1% and a 39.0% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Phathom Pharmaceuticals, and ACADIA Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cara Therapeutics with a $32.67 average price target, representing a 106.3% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $33.00 price target.
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Based on Cara Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.51 million and GAAP net loss of $28.61 million. In comparison, last year the company earned revenue of $5.53 million and had a GAAP net loss of $20.65 million.
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CARA Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics. Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain. The company was founded by Derek T. Chalmers, Michael E. Lewis, and Frederique Menzaghi on July 2, 2004 and is headquartered in Stamford, CT.
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