H.C. Wainwright Thinks Cara Therapeutics’ Stock is Going to Recover

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 on Friday at $12.56, close to its 52-week low of $11.11.

According to TipRanks.com, Livnat is ranked 0 out of 5 stars with an average return of -8.8% and a 38.6% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Agile Therapeutics.

Currently, the analyst consensus on Cara Therapeutics is Strong Buy and the average price target is $20.33, representing a 61.9% upside.

In a report issued on March 15, Canaccord Genuity also reiterated a Buy rating on the stock with a $22 price target.

Based on Cara Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $14.18 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $21.97 million.

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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. The company was founded by Derek T. Chalmers, Michael E.