Cara Therapeutics Inc. (NASDAQ:CARA) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,144,573 shares, a growth of 37.5% from the September 15th total of 2,287,778 shares. Currently, 14.8% of the company’s shares are sold short. Based on an average daily volume of 1,696,446 shares, the short-interest ratio is currently 1.9 days.

A number of research analysts have recently issued reports on CARA shares. Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Wednesday, July 6th. Cantor Fitzgerald restated a “buy” rating on shares of Cara Therapeutics in a research report on Friday, August 5th. Stifel Nicolaus dropped their price target on shares of Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Needham & Company LLC dropped their target price on shares of Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Sunday, August 7th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $16.00 target price on shares of Cara Therapeutics in a research report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.72.

Shares of Cara Therapeutics (NASDAQ:CARA) opened at 7.75 on Friday. The company’s market cap is $211.44 million. The firm’s 50-day moving average is $7.13 and its 200-day moving average is $6.21. Cara Therapeutics has a 52 week low of $4.26 and a 52 week high of $18.12.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors Inc. boosted its position in shares of Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 101 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 444 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Cara Therapeutics by 3.1% in the second quarter. California State Teachers Retirement System now owns 44,054 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 1,325 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 last quarter. Finally, CAM Group Holding A S boosted its position in shares of Cara Therapeutics by 2.3% in the second quarter. CAM Group Holding A S now owns 268,000 shares of the biopharmaceutical company’s stock worth $1,289,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.

Cara Therapeutics Company Profile

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

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