Needham & Company Reiterates Cara Therapeutics (CARA) at Buy, Expects EMA Approval of I.V. Korsuva in 2Q22

Needham & Company analyst Joseph Stringer reiterated a Buy rating and $26.00 price target on Cara Therapeutics (NASDAQ: CARA), following the company's Q4 report.

The analyst quotes: "CARA reported 4Q21 financial results yesterday, and we spoke with management for additional details. Partner Vifor (profit share w/ CARA) is on track for an Apr 2022 U.S. launch of I.V. Korsuva for Chronic Kidney Disease (CKD)-Pruritus. WAC pricing is ~$2,100/yr (~$150/vial). We expect EMA approval in 2Q22 given the positive CHMP decision last month. We are updating our revenue models, with 2022 revenues to CARA of $27.5M. Two oral Korsuva Phase 3 trial starts in 1) CKD-Pruritus and 2) Atopic Dermatitis are expected this month. Investor interest in the oral programs is relatively high given the potential sizable market opportunity. Ph3 trial designs not yet disclosed, but the company plans to provide details at an R&D event on 3/11/22. Reiterate BUY."

For an analyst ratings summary and ratings history on Cara Therapeutics click here. For more ratings news on Cara Therapeutics click here.

Shares of Cara Therapeutics closed at $10.06 yesterday.

By Vlad Schepkov | [email protected]

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• York Space Systems (YSS) PT Lowered to $18 at Needham
• Movano (MOVE) Misses Q2 EPS by 195c