H.C. Wainwright Believes Cara Therapeutics (NASDAQ: CARA) Still Has Room to Grow

In a report released today, Oren Livnat from H.C. Wainwright maintained a Buy rating on Cara Therapeutics (CARAResearch Report), with a price target of $31. The company’s shares opened today at $26.18, close to its 52-week high of $27.55.

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 8.1% and a 50.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.

Cara Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $33.50.

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Based on Cara Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $21.96 million. In comparison, last year the company had a GAAP net loss of $17.19 million.

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CARA Therapeutics, Inc. 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.