Needham analyst Joseph Stringer lowered the firm’s price target on Cara Therapeutics to $22 from $26 and keeps a Buy rating on the shares. Korsuva generated $1.1M in Q4 revenues to Cara Therapeutics, well below the firm’s estimate, the analyst tells investors in a research note. The lower-than-expected Korsuva revenue will put short-term pressure on the stock, but the firm believes the main value-driving event this year will be the Phase 3 Part A internal readout from the Atopic Dermatitis program in 2H23.
Published first on TheFly
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Read More on CARA:
- Cara Therapeutics price target lowered to $20 from $25 at H.C. Wainwright
- Cara Therapeutics price target lowered to $13 from $25 at Piper Sandler
- CARA Plunges after a Miss on the Topline and Bottomline
- Cara sees cash, cash equivalents sufficient to fund ops into at least 1H24
- Cara Therapeutics reports Q4 EPS (56c), consensus (32c)
