Cara Therapeutics (CARA) Gets a Buy Rating from Needham

In a report released today, Alan Carr from Needham reiterated a Buy rating on Cara Therapeutics (CARAResearch Report), with a price target of $35.00. The company’s shares closed last Monday at $14.51.

According to TipRanks.com, Carr is a 3-star analyst with an average return of 2.3% and a 43.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Crispr Therapeutics AG, and Rhythm Pharmaceuticals.

Currently, the analyst consensus on Cara Therapeutics is a Strong Buy with an average price target of $29.00.

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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 394.3K.

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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.