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.”
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Read More on CARA:
- Cara Therapeutics Announces Outcome from Dose-Finding Part A of KIND 1 Study Evaluating Oral Difelikefalin for Moderate-to-Severe Pruritus in Patients with Atopic Dermatitis
- Cara shares ‘highly disconnected’ from DFK potential, says H.C. Wainwright
- Cara Therapeutics price target lowered to $11 from $23 at Canaccord
- Cara Therapeutics downgraded to Neutral from Overweight at Piper Sandler
- Cara closes financing transaction with HealthCare Royalty extending cash runway