HC Wainwright started coverage on shares of Cara Therapeutics Inc. (NASDAQ:CARA) in a research note released on Thursday morning. The brokerage issued a buy rating and a $20.00 target price on the biopharmaceutical company’s stock.

CARA has been the topic of several other research reports. Piper Jaffray Cos. restated an overweight rating and set a $16.00 price target on shares of Cara Therapeutics in a research note on Friday, September 23rd. Cantor Fitzgerald set a $24.00 price objective on Cara Therapeutics and gave the company a buy rating in a research report on Thursday, September 15th. Zacks Investment Research raised Cara Therapeutics from a hold rating to a buy rating and set a $5.50 price objective on the stock in a research report on Wednesday, July 6th. Stifel Nicolaus dropped their price objective on Cara Therapeutics from $25.00 to $24.00 and set a buy rating on the stock in a research report on Friday, August 5th. Finally, Needham & Company LLC dropped their price objective on Cara Therapeutics from $27.00 to $23.00 and set a buy rating on the stock in a research report on Sunday, August 7th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Cara Therapeutics currently has an average rating of Buy and an average price target of $19.72.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA) traded down 2.10% during midday trading on Thursday, hitting $7.92. 1,008,235 shares of the stock traded hands. Cara Therapeutics has a 12 month low of $4.26 and a 12 month high of $18.12. The company has a 50-day moving average of $7.07 and a 200-day moving average of $6.19. The stock’s market cap is $216.07 million.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by $0.06. The firm earned $0.08 million during the quarter, compared to analysts’ expectations of $0.13 million. The company’s revenue for the quarter was down 91.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS. On average, equities research analysts anticipate that Cara Therapeutics will post ($1.81) earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in Cara Therapeutics by 46.8% in the first quarter. JPMorgan Chase & Co. now owns 513,382 shares of the biopharmaceutical company’s stock worth $3,194,000 after buying an additional 163,772 shares during the period. State Street Corp boosted its stake in Cara Therapeutics by 14.6% in the first quarter. State Street Corp now owns 324,157 shares of the biopharmaceutical company’s stock worth $2,018,000 after buying an additional 41,391 shares during the period. Geode Capital Management LLC boosted its stake in Cara Therapeutics by 1.9% in the first quarter. Geode Capital Management LLC now owns 116,068 shares of the biopharmaceutical company’s stock worth $721,000 after buying an additional 2,114 shares during the period. Renaissance Technologies LLC boosted its stake in Cara Therapeutics by 88.1% in the first quarter. Renaissance Technologies LLC now owns 89,400 shares of the biopharmaceutical company’s stock worth $556,000 after buying an additional 41,860 shares during the period. Finally, A.R.T. Advisors LLC boosted its stake in Cara Therapeutics by 798.6% in the first quarter. A.R.T. Advisors LLC now owns 139,303 shares of the biopharmaceutical company’s stock worth $866,000 after buying an additional 123,800 shares during the period. Institutional investors and hedge funds own 48.67% of the company’s stock.

About Cara Therapeutics

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.

5 Day Chart for NASDAQ:CARA

Receive News & Stock Ratings for Cara Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics Inc. and related stocks with our FREE daily email newsletter.