In a recently released analyst update, Stifel Nicolaus’ Senior Equity Analyst covering Specialty Pharmaceuticals, Annabel Samimy, reiterated her buy rating on shares of Cara Therapeutics, Inc. (NASDAQ:CARA) with a bullish price target.
This guidance comes just a few weeks after the biopharmaceutical company announced financial results and operational highlights for the fourth quarter and full year ended December 31, 2018.
Annabel Samimy’s Cara Therapeutics price target of $26.00 USD per share implies a potential upside of approximately 27.64% based on the last traded price of $20.37 USD on the NASDAQ.
According to TheFly, “Stifel analyst Annabel Samimy noted that Cara Therapeutics should be reporting its first pivotal readout of Phase 3 KALM-1 data for CKD-associated pruritus in the hemodialysis population within weeks and she believes the share “could move well past the mid-$20s” on a positive outcome. The analyst, who applies a 75% probability of success to Korsuva in CKD-associated pruritus, keeps a Buy rating and $26 price target on Cara shares and would be a buyer ahead of the data.”
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