Here's Why Cara Therapeutics Rose 9.6% in August
Cara Therapeutics (NASDAQ: CARA), a clinical-stage biotech focused on drugs that relieve pain, rose by nearly 10% during August, according to data from S&P Global Market Intelligence. The jump was caused by management;s sharing some upbeat news with investors during its second-quarter earnings report.
Here's a review of the financial highlights from the second quarter, as well as a few key upcoming milestones:
While Cara's stock rose sharply in response to this earnings report, it gradually fell back to earth in the following weeks. However, Cara ended August on a high note, after the company announced that it would be presenting clinical data at two upcoming medical conferences. That news was apparently enough to get traders interested in the stock once again.
Source: Fool.com
Cara Therapeutics Inc. Stock
Based on 10 Buy predictions and 8 Sell predictions the sentiment towards Cara Therapeutics Inc. is rather balanced.
Based on the current price of 0.24 € the target price of 4 € shows a potential of 1548.8% for Cara Therapeutics Inc. which would more than double the current price.
