CARA - Is Cara Therapeutics a Buy for Summer 2021?
Cara Therapeutics (NASDAQ: CARA) is an aspiring biotech company that seeks to combat an extremely common, yet under-the-radar, medical condition -- itchiness. Its efforts hit a stumbling block late last month, however, with the release of not-so-impressive clinical results for its sole drug candidate. The stock, which had more than doubled since the beginning of October, saw virtually all of those gains vaporized in a matter of days.
Betting on small-cap biotechs ahead of clinical data releases is probably one of the riskiest investment strategies out there. But what's next for this company? Are there riches ahead for investors who can withstand Cara Therapeutics' volatility ?
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Is Cara Therapeutics a Buy for Summer 2021?