$CARA HIGHLY UNUSUAL OPTIONS ACTIVITY. CANNABIS V OPIOID
Cara Therapeutics was flagged on friday due to the exceptionally high amount of options traded, over 340% above the average volume. 
CARA disappointed investors with first quarter results with a higher loss than expected, but the company has $156 million in cash available to continue to develop new Cannabinoid drugs. Cara specialises in the development of pain relief drugs and their current project is seen as a means of replacing the highly addictive Opioids.
The stock is currently sitting on support while selling of in sympathy with the entire market, a bounce would present a good entry. To complete the EW count, $25 is a maximum wave 5 target in our opinion, while setting $22.50 as your initial target to bank profits.
ANALYSTS PRICE TARGET $26.02
ANALYSTS RECOMMENDATION BUY
SHORT INTEREST 17%
COMPANY PROFILE
CARA Therapeutics, Inc. engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.
CARA disappointed investors with first quarter results with a higher loss than expected, but the company has $156 million in cash available to continue to develop new Cannabinoid drugs. Cara specialises in the development of pain relief drugs and their current project is seen as a means of replacing the highly addictive Opioids. The stock is currently sitting on support while selling of in sympathy with the entire market, a bounce would present a good entry. To complete the EW count, $25 is a maximum wave 5 target in our opinion, while setting $22.50 as your initial target to bank profits.
ANALYSTS PRICE TARGET $26.02
ANALYSTS RECOMMENDATION BUY
SHORT INTEREST 17%
COMPANY PROFILE
CARA Therapeutics, Inc. engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.