Cara Therapeutics price target lowered to $2.50 from $7 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Cara Therapeutics to $2.50 from $7 and keeps a Buy rating on the shares after the company reported “disappointing results” in Part A of the Phase 3 KIND-1 trial of oral difelikefalin for moderate-to-severe atopic dermatitis-associated pruritus. The firm, which had forecasted an AD launch in the second half of 2026, now removes all AD revenue, but maintains a Buy rating in light of the current negative $65M enterprise value and second half of 2024 data that will “present more shots on goal.”