Canaccord Genuity Reiterates a Buy Rating on Cara Therapeutics

By Austin Angelo

Canaccord Genuity analyst Arlinda Lee reiterated a Buy rating on Cara Therapeutics (NASDAQ: CARA) today and set a price target of $25. The company’s shares opened today at $15.59.

According to TipRanks.com, Lee is a 3-star analyst with an average return of 1.9% and a 43.1% success rate. Lee covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Actinium Pharmaceuticals, and Asterias Biotherapeutics.

Currently, the analyst consensus on Cara Therapeutics is Strong Buy and the average price target is $27, representing a 73.2% upside.

In a report issued on May 5, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $25 price target.

The company has a one year high of $20.90 and a one year low of $4.35. Currently, Cara Therapeutics has an average volume of 2.11M.

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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.