Needham Maintains Buy on Cara Therapeutics, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Joseph Stringer has maintained a Buy rating on Cara Therapeutics (NASDAQ:CARA) but has reduced the price target from $22 to $6.
December 18, 2023 | 3:29 pm
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NEGATIVE IMPACT
Needham analyst Joseph Stringer maintains a Buy rating on Cara Therapeutics but significantly lowers the price target from $22 to $6.
The substantial reduction in the price target from $22 to $6 by a reputable analyst could negatively impact investor sentiment and the stock price of Cara Therapeutics in the short term, despite maintaining a Buy rating.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100