Jefferies analyst Dennis Ding says that Centers for Medicare & Medicaid Services, or CMS, dialysis draft docs “should be construed as a positive and an important sign CMS is willing to innovate on a decade-old policy” and reimburse novel dialysis drugs. Proposing a “post TDAPA add-on payment” for Korsuva to 2027 should preserve volume growth and “help unlock the stock over the near to medium term, says Jefferies, which has a Buy rating and $18 price target on Cara Therapeutics shares.
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