Canaccord Genuity Downgrades Cara Therapeutics to Hold, Lowers Price Target to $1
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity has downgraded Cara Therapeutics from Buy to Hold and significantly lowered the price target from $10 to $1.
June 13, 2024 | 1:00 pm
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NEGATIVE IMPACT
Canaccord Genuity has downgraded Cara Therapeutics from Buy to Hold and significantly lowered the price target from $10 to $1.
The downgrade from Buy to Hold and the drastic reduction in the price target from $10 to $1 by Canaccord Genuity is likely to negatively impact investor sentiment and the stock price of Cara Therapeutics in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100