Needham analyst Joseph Stringer assigned a Buy rating to Cara Therapeutics (CARA) today and set a price target of $26.00. The company’s shares closed last Monday at $12.38, close to its 52-week low of $12.12.
According to TipRanks.com, Stringer ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -15.1% and a 17.3% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Lexicon Pharmaceuticals, and Phathom Pharmaceuticals.
Cara Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $31.40, implying a 143.6% upside from current levels. In a report issued on April 29, Stifel Nicolaus also maintained a Buy rating on the stock with a $37.00 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 $112 million and net profit of $78.91 million. In comparison, last year the company earned revenue of $4.51 million and had a GAAP net loss of $28.61 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.
