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Fly News Breaks for September 13, 2018
CARA
Sep 13, 2018 | 08:19 EDT
Jefferies analyst Matthew Andrews initiated coverage of Cara Therapeutics with a Buy rating and $30 price target. The company's first-in-class Korsuva reduces itch and pain without causing opioid-related side effect, Andrews tells investors in a research note. The analyst expects the two ongoing Phase III trials to generate "similar positive data due to similar protocol and robust prior positive data." He views the top-line Phase III data in mid-2019 as the next key catalyst for Cara shares.
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