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Trading list update - August 24: CARA - Cara Therapeutics

Cara Therapeutics price target raised to $35 from $33 at H.C. Wainwright

H.C. Wainwright analyst Oren Livnat raised the firm's price target on Cara Therapeutics to $35 from $33 and keeps a Buy rating on the shares following FDA approval of IV Korsuva to treat moderate-to-severe pruritus associated with chronic kidney disease in hemodialysis patients. The analyst says the stock undervalues Cara's U.S. dialysis market opportunity alone.

Our Take:  "Very nice jump yesterday! +33% or so in one day. Congrats to those who held it and knew this drug would be approved eventually. Possible trade idea, take some profits by selling a few upside calls. If there is a dip in price, add more by selling a few slightly in the money puts."

$CARA, Cara Therapeutics, Inc. / H1

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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