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Fly News Breaks for March 28, 2017
CARA
Mar 28, 2017 | 08:46 EDT
H.C. Wainwright analyst Corey Davis raised his price target for Cara Therapeutics to $30 saying this morning's data from its I.V. form of CR845 in treating uremic pruritis is "even better than expected." On the primary endpoint, 845 showed an "impressive" 68% reduction in itching at the eight week endpoint, which was even better than the 54% reduction seen in the previous Phase 2a trial that lasted only two weeks, Davis tells investors in a research note. The analyst keeps a Buy rating on the shares. In pre-market trading, Cara shares are up 15%, or $2.69, to $20.84.
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