H.C. Wainwright Starts Cara Therapeutics (CARA) at Buy
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H.C. Wainwright initiates coverage on Cara Therapeutics (NASDAQ: CARA) with a Buy rating and a price target of $20.00.
Analyst Corey Davis commented, "Drug companies have been seeking the perfect pain treatment for decades—something with mu-opioid-like efficacy (e.g., morphine) with none of the side effects. The ideal product has proven elusive, but Cara's CR845 could come close. Its novelty as one of the first kappa opioid receptor agonists that does not enter the CNS, presents the opportunity to treat peripheral pain without addiction potential. Cara now has shown impressive proof of concept data, but the real clincher should come from the readout of three ongoing Phase 2/3 studies expected in the 1H 2017."
Shares of Cara Therapeutics closed at $7.56 yesterday.
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