Cara Therapeutics (CARA) Gets a Buy Rating from Needham

Needham analyst Alan Carr assigned a Buy rating to Cara Therapeutics (CARAResearch Report) today and set a price target of $35.00. The company’s shares closed last Tuesday at $14.26.

According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.7% and a 42.1% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Phathom Pharmaceuticals, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Cara Therapeutics is a Strong Buy with an average price target of $32.67.

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The company has a one-year high of $26.67 and a one-year low of $8.88. Currently, Cara Therapeutics has an average volume of 367.6K.

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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.