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Needham Thinks Cara Therapeutics’ Stock is Going to Recover

In a report released today, Joseph Stringer from Needham reiterated a Buy rating on Cara Therapeutics (CARAResearch Report), with a price target of $26.00. The company’s shares closed last Tuesday at $10.06, close to its 52-week low of $9.63.

According to TipRanks.com, Stringer is ranked 0 out of 5 stars with an average return of -25.0% and a 21.6% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Phathom Pharmaceuticals, and Lexicon Pharmaceuticals.

Cara Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $26.00.

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The company has a one-year high of $29.65 and a one-year low of $9.63. Currently, Cara Therapeutics has an average volume of 455.4K.

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CARA Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics. 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 Frederique Menzaghi on July 2, 2004 and is headquartered in Stamford, CT.

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