Stifel analyst Annabel Samimy downgraded Cara Therapeutics to Hold from Buy with a price target of $1, down from $6. Cara’s last hope for oral-difelikefalin has “disappeared,” with KOURAGE-1 Part A failing to show clinically meaningfully benefit across any dose in moderate-severe pruritus associated with notalgia paresthetica, the analyst tells investors in a research note. The firm added that Cara no longer has sufficient resources for further exploration.
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