Cantor Fitzgerald Releases a Buy Rating on Cara TherapeuticsBy Ryan Adsit
In a report released yesterday, Chiara Russo from Cantor Fitzgerald reiterated a Buy rating on Cara Therapeutics (NASDAQ: CARA), with a price target of $24. The company’s shares closed yesterday at $17.49, close to its 52-week high of $19.44.
According to TipRanks.com, Russo is a 3-star analyst with an average return of 3.2% and a 45.9% success rate. Russo covers the Healthcare sector, focusing on stocks such as Paratek Pharmaceuticals, Axsome Therapeutics Inc, and Flexion Therapeutics.
Currently, the analyst consensus on Cara Therapeutics is Strong Buy and the average price target is $25, representing a 42.9% upside.
In a report issued on February 22, H.C. Wainwright also reiterated a Buy rating on the stock with a $22 price target.
Based on Cara Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $11.54 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $9.53 million.
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CARA Therapeutics, Inc. is a clinical-stage company, which engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain. The company was founded by Derek T. Chalmers, Michael E. Lewis, and Frédérique Menzaghi on July 2, 2004 and is headquartered in Stamford, CT.