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7 Marijuana Stocks That Can’t Be Ignored - 5 of 7

 
 

#5 - Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ: CARA) - Many analysts say that the way to have marijuana stocks become more widely accepted is by promoting its medicinal use. That is the mission of Cara Therapeutics and it made some significant strides in 2018 towards fulfilling that mission. The company found a partner in Vifor Fresenius Medical Care Renal Pharma Ltd (VFMCRP) that allows the company to market their Korsuva injection as a treatment for pruritis – a condition associated with chronic kidney disease. The product is making its way through trials and could be ready to put the drug into phase 2 studies early in 2019. Cara’s stock is currently trading around $16 per share, but analysts have given the stock a consensus buy rating and are forecasting the stock to hit a target near $27 per share – a nearly 89% increase from its current levels. Like many pharmaceutical companies, there are concerns that their pipeline of drugs could be several years away from becoming a viable contributor to Cara’s top and bottom line. However, someone has to be first. And if the trials go well, Cara will be a name to watch in the increasingly disruptive world of companies looking to capitalize on cannabis.

About Cara Therapeutics

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company's lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis. Read More 
Current Price
$0.31
Consensus Rating
Hold
Ratings Breakdown
0 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$2.32 (647.4% Upside)

 

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