These Cara Therapeutics Analysts Are No Longer Bullish: 'We See No Obvious Future Value Drivers'
Portfolio Pulse from Priya Nigam
Cara Therapeutics (NASDAQ:CARA) shares dropped significantly after analysts from Needham and HC Wainwright downgraded the stock due to the failure of a key clinical trial and the lack of future value drivers. The company plans to halt its NP program and explore strategic alternatives.
June 13, 2024 | 4:21 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cara Therapeutics' stock was downgraded by Needham and HC Wainwright after a failed clinical trial and the company's decision to halt its NP program. The stock dropped 34.51% to 44 cents.
The downgrades from two analysts and the failure of a key clinical trial have led to a significant drop in CARA's stock price. The company's decision to halt its NP program and lack of future value drivers further contribute to the negative outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100