Canaccord lowered the firm’s price target on Cara Therapeutics to $11 from $23 and keeps a Buy rating on the shares. The firm said while there could be some small revenue in the US going forward, they are essentially zeroing out the contribution from IV Korsuva and they now reflect a more realistic launch year for oral Korsuva in NDD-CKD, but maintaining their 67% probability of approval.
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