Why Wall Street Analysts Think This Biotech Stock Could Nearly Double [The Motley Fool]
Cara Therapeutics, Inc. (CARA)
Last cara therapeutics, inc. earnings: 2/27 04:01 pm
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US:NASDAQ Investor Relations:
ir.caratherapeutics.com/investor-relations
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Source: The Motley Fool
Cara Therapeutics hopes to still succeed with a drug that's failed once already. Cara Therapeutics ( NASDAQ:CARA ) was a highflier one year ago. But then the biotech announced disappointing results in June 2017 for its lead candidate, CR845, in a phase 2b study targeting treatment of pain in patients with osteoarthritis (OA) of the knee or hip. Since then, Cara stock is down more than 50%. But some Wall Street analysts think that Cara will make a dramatic comeback. Canaccord Genuity analyst Arlinda Lee recently set a one-year price target for the stock of $21 -- close to 80% higher than Cara's current share price. Earlier this month, Needham maintained a price target of $23, nearly double the stock's current level. Why are these analysts so bullish about the beaten-down biotech stock? Image source: Getty Images. Itching for success While the disappointing results for CR845 in treating OA pain was a big blow for Cara, the biotech was already moving forward
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CARA
News
- Oruka Therapeutics Expands Leadership Team, Naming Joana Goncalves, MBChB, as Chief Medical Officer [Yahoo! Finance]Yahoo! Finance
- Uremic Pruritus Pipeline Insight 2024, Featuring Key Players Cara Therapuetics and Lumosa Therapeutics, and Key Emerging Drugs Cara Therapeutics CR845 and Lumos Therapeutics' LT 5001 [Yahoo! Finance]Yahoo! Finance
- Cara Therapeutics, Inc. (NASDAQ: CARA) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.MarketBeat
- Cara Therapeutics to Present at the 23rd Annual Needham Virtual Healthcare ConferenceGlobeNewswire
- Cara Therapeutics, Inc. (NASDAQ: CARA) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.MarketBeat
CARA
Earnings
- 3/4/24 - Beat
CARA
Sec Filings
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form ARS
- 4/22/24 - Form DEF
- CARA's page on the SEC website