H.C. Wainwright Reiterates a Buy Rating on Cara Therapeutics (CARA)

H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Cara Therapeutics (CARAResearch Report) today and set a price target of $33.00. The company’s shares closed last Tuesday at $14.76.

According to TipRanks.com, Livnat is a 3-star analyst with an average return of 2.2% and a 44.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Zynerba Pharmaceuticals, and Verrica Pharmaceuticals.

Currently, the analyst consensus on Cara Therapeutics is a Strong Buy with an average price target of $32.67, representing an 117.8% upside. In a report released today, Needham also assigned a Buy rating to the stock with a $35.00 price target.

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Based on Cara Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.63 million and GAAP net loss of $25.07 million. In comparison, last year the company earned revenue of $5.21 million and had a GAAP net loss of $22.96 million.

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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.