In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Cara Therapeutics (NASDAQ: CARA), with a price target of $22. The company’s shares closed yesterday at $12.05, close to its 52-week low of $11.11.
According to TipRanks.com, Livnat has 0 stars on 0-5 star ranking scale with an average return of -12.5% and a 25.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.
Currently, the analyst consensus on Cara Therapeutics is Strong Buy and the average price target is $22.33, representing an 85.4% upside.
In a report released yesterday, Needham also maintained a Buy rating on the stock with a $23 price target.
Based on Cara Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $16.77 million. In comparison, last year the company had a GAAP net loss of $22.2 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.