Needham Maintains Buy on Cara Therapeutics, Lowers Price Target to $5
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 $6 to $5.
January 22, 2024 | 10:07 pm
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Needham analyst Joseph Stringer maintains a Buy rating on Cara Therapeutics but lowers the price target from $6 to $5.
The reduction in the price target by Needham may lead to a negative perception among investors, potentially causing a short-term decline in CARA's stock price. However, the maintenance of a Buy rating indicates a continued positive outlook on the company's fundamentals, which could mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100