CARA - Cara price target lowered at H.C. Wainwright on pricing concerns for pruritus drug

Flagging potential pricing issues for the company’s pruritus therapy, Korsuva, H.C. Wainwright has trimmed the price target of the commercial-stage biopharmaceutical company, Cara Therapeutics (NASDAQ:CARA) by nearly 14%. Vifor has partnered with Vifor to commercialize Korsuva for dialysis patients with CKD-aP in the U.S. under profit share agreements. The commercial launch of the injection is expected in April 2022. “While we greatly increase near-term revenues on higher IV Korsuva pricing, on the flip side, we recognize that investors will remain concerned about post-TDAPA bundle economics,” the analyst Oren Livnat wrote, slashing the per share target to $30 from $35. Livnat models a ~65% price decline for the therapy in 2025. However, he maintains the Buy rating and keeps the stock as a top pick for the firm in 2022. Last December, the U.S. Center for Medicare & Medicaid Services granted Transition Drug Add-on Payment Adjustment to Korsuva under the anti-pruritic

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Cara price target lowered at H.C. Wainwright on pricing concerns for pruritus drug