H.C. Wainwright analyst Oren Livnat analyst raised his price target for Cara Therapeutics to $31 from $28 after the company announced that the ongoing Phase 2 of oral Korsuva - its novel kappa opioid receptor agonist - in stage III-V chronic kidney disease associated pruritus in non-hemodialysis patients is fully enrolled and will not be up-sized from the original n=240 sample after the prespecified interim conditional powering analysis. The analyst believes this incrementally de-risks the likelihood of oral Korsuva Phase 2 positive results in Q4, and continues the steady run of apparent evidence supporting Korsuva's potent anti-pruritic efficacy and, importantly, no surprises on average placebo response rates. Both give him continued confidence in positive results of the ongoing KALM-2 IV Korsuva Phase 3, and the latter also underlines the intractable symptoms and unmet need in CKD-aP. Livnat has a Buy rating on the shares.