Cara Therapeutics price target raised to $28 from $23 at Needham. Needham analyst Alan Carr raised his price target on Cara Therapeutics to $28 and kept his Buy rating, citing the company’s update on Phase 3 trial of IV CR845 in post-surgical pain. Carr notes that while the low dose missed statistical significance, it trended favorably relative to placebo, and the high dose met the primary endpoint of pain relief. The analyst sees the profile of CR845 as attractive with effective pain relief, low addiction, and low nausea side effects
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