Cara Therapeutics Gets a Buy Rating from Canaccord Genuity

Canaccord Genuity analyst Arlinda Lee maintained a Buy rating on Cara Therapeutics (NASDAQ: CARA) today and set a price target of $21. The company’s shares opened today at $12.40, close to its 52-week low of $11.11.

According to TipRanks.com, Lee is a 4-star analyst with an average return of 5.5% and a 49.1% success rate. Lee covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Zynerba Pharmaceuticals, and Aquinox Pharmaceuticals.

Currently, the analyst consensus on Cara Therapeutics is Strong Buy and the average price target is $22.33, representing an 80.1% upside.

In a report issued on May 10, Needham also maintained a Buy rating on the stock with a $23 price target.

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The company has a one-year high of $28.50 and a one-year low of $11.11. Currently, Cara Therapeutics has an average volume of 632.4K.

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CARA Therapeutics, Inc. is a clinical-stage company, which 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.