In a recently released analyst research report, Cantor Fitzgerald Senior Research Analyst, Charles C. Duncan, reiterated his buy rating on shares of Cara Therapeutics, Inc. (NASDAQ:CARA) with a price target that suggests some noteworthy upside to come.
This comes just a few days after Stifel Nicolaus’ Senior Equity Analyst covering Specialty Pharmaceuticals, Annabel Samimy, reiterated her buy rating on shares of CARA with a similar price target.
Charles C. Duncan’s price target of $27.00 USD per share implies a potential upside of approximately 44.15% based on the last traded price of $18.73 USD per share on the NASDAQ.
According to Markets.co, “We reiterate our Overweight rating and 12-month price target of $27 on Cara Therapeutics. We recently hosted a KOL call with a physician who has expertise in chronic kidney disease associated pruritus (CKD-aP). As a result of this recent due diligence, we have enhanced conviction about the P3 KALM-1/-2 study readouts and potential for KORSUVA (CR845/difelikefalin) to usher-in a paradigm shift and a new SoC for this high-burden symptom of disease. Our KOL chaired the DSMB for the KORSUVA Phase 2 study and is an investigator for the P3 KALM-1 study, although we explicitly did not address his P3 patient experience.”
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