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Fly News Breaks for May 29, 2019
CARA
May 29, 2019 | 10:51 EDT
H.C. Wainwright analyst Oren Livnat raised his price target for Cara Therapeutics to $28 from $26 saying this morning's "robust" KALM-1 results bolster his "bullish" expectations. KALM-1 delivered, with highly statistically significant results versus placebo on all primary and secondary endpoints, Livnat tells investors in a research note. The analyst adds that the general consistency from Phase 2b supports his confidence in likely success of the global KALM-2 study for which he expects topline data by Q4. Livnat maintains an "already high" 80% probability of success on IV Korsuva and keeps a Buy rating on Cara Therapeutics.
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