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CARA

Cara Therapeutics

$13.30

0.01 (0.08%)

16:26
08/03/17
08/03
16:26
08/03/17
16:26

Cara Therapeutics reports Q2 EPS (29c), consensus (62c)

"During the quarter, we continued to make good progress with our CR845 development programs in acute postoperative pain, chronic osteoarthritis pain and chronic kidney disease-associated pruritus. Importantly, we were very pleased to receive Breakthrough Therapy designation from the FDA for I.V. CR845 for the treatment of CKD-aP in hemodialysis patients, and expect to meet with the FDA in the third quarter of 2017 to finalize our pivotal program for this indication. We look forward to expanding our development activities in pruritus with Oral CR845 later this year through the initiation of a Phase 1 study in non-dialysis CKD patients and the submission of an IND application for the treatment of chronic liver disease-associated pruritus," said CEO Derek Chalmers.

  • 03

    Aug

CARA Cara Therapeutics
$13.30

0.01 (0.08%)

06/30/17
PIPR
06/30/17
NO CHANGE
Target $27
PIPR
Overweight
Cara Therapeutics selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Charles Duncan believes last night's Phase II trial results from Cara Therapeutics with oral CR845 in osteoarthritis hip and knee pain are "encouraging" at the highest 5mg dose. These results suggest oral CR845 has analgesic efficacy, with a differentiated safety/tolerability profile for a chronic agent, Duncan tells investors in a research note. He recommends using any stock weakness as a buying opportunity and keeps an Overweight rating on Cara with a $27 price target.
06/30/17
HCWC
06/30/17
NO CHANGE
Target $30
HCWC
Buy
Cara study results 'could have been far worse,' says H.C. Wainwright
H.C. Wainwright analyst Corey Davis says that even though Cara Therapeutics missed the primary endpoint in its Phase 2 study with oral CR845 in osteoarthritis pain, the company "unequivocally showed" a positive signal in the pre-specified subset of patients with hip osteoarthritis, but not knee. Most importantly, CR845 showed an "incredibly benign side effect profile," Davis tells investors in a research note. The analyst calls CR845 the first ever successful proof of concept study for an oral kappa opioid with virtually no side effects. The study "could have been far worse," and while not an obvious win that allows progression to Phase 3, the next step will be to conduct another Phase 2 with changes that can optimize the chances of CR845 showing clear efficacy. Davis keeps a Buy rating on Cara shares with a $30 price target. The stock in premarket trading is down 29%, or $7.52, to $17.99.
06/30/17
JANY
06/30/17
DOWNGRADE
Target $21
JANY
Neutral
Cara Therapeutics downgraded to Neutral from Buy at Janney Capital
Janney Capital analyst Ken Trbovich said the results of Cara Therapeutics' first placebo-controlled study of oral CR845 do not mean the end to development of the agent for chronic pain, but they also do not allow Cara to advance to a pivotal study next year, as he believes investors were expecting. Given that the pivotal study for this program has been pushed out to 2019/2020 from 2018 and that these results, combined with the decision a week ago to increase enrollment in the ongoing adaptive Phase 3 study of I.V. CR845 in postsurgical pain, gives him less confidence in a positive outcome for the Phase 3 than he'd previously had, Trbovich downgraded Cara to Neutral from Buy and lowered his fair value estimate to $21 from $22.
06/30/17
06/30/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Celgene (CELG) downgraded to Neutral from Buy at BTIG with analyst Dane Leone citing a reduction in Mongersen and Ozanimod estimates. 2. Cara Therapeutics (CARA) downgraded to Neutral from Buy at Janney Capital with analyst Ken Trbovich saying the results of Cara Therapeutics' first placebo-controlled study of oral CR845 do not mean the end to development of the agent for chronic pain, but they also do not allow Cara to advance to a pivotal study next year, as he believes investors were expecting. 3. AmerisourceBergen (ABC) downgraded to Neutral from Buy at BofA/Merrill with analyst Steven Valiquette saying AmerisourceBergen is up 20% year-to-date but believes further upside will be difficult as data indicates generic pricing deflation accelerated in May. 4. RE/MAX Holdings (RMAX) downgraded to Underperform from Neutral at BofA/Merrill. 5. Vipshop (VIPS) downgraded to Hold from Buy at Deutsche Bank with analyst Alan Hellawell saying he has "competitive pressure and growth concerns" with June seeing industry-wide discounting. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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