Cara Therapeutics Inc. (NASDAQ:CARA) had its price target cut by equities researchers at CIBC from $29.00 to $28.00 in a report released on Friday. CIBC’s target price suggests a potential upside of 200.43% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Cara Therapeutics from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, November 8th. HC Wainwright restated a “buy” rating on shares of Cara Therapeutics in a report on Tuesday, November 8th. Cantor Fitzgerald set a $24.00 target price on Cara Therapeutics and gave the company a “buy” rating in a report on Sunday, November 6th. Piper Jaffray Cos. restated an “overweight” rating and set a $16.00 target price on shares of Cara Therapeutics in a report on Friday, September 23rd. Finally, Needham & Company LLC lowered their target price on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Sunday, August 7th. Ten investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $21.95.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Shares of Cara Therapeutics (NASDAQ:CARA) opened at 9.32 on Friday. Cara Therapeutics has a one year low of $4.26 and a one year high of $17.69. The stock’s market capitalization is $254.27 million. The firm’s 50-day moving average is $8.05 and its 200-day moving average is $6.34.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. During the same period in the previous year, the firm earned ($0.19) EPS. Equities research analysts forecast that Cara Therapeutics will post ($1.78) EPS for the current year.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Cara Therapeutics by 127.2% in the third quarter. Wells Fargo & Company MN now owns 12,007 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 6,722 shares during the period. ProShare Advisors LLC raised its stake 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 valued at $110,000 after buying an additional 444 shares during the period. Teachers Advisors Inc. raised its stake 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 valued at $148,000 after buying an additional 101 shares during the period. Rhumbline Advisers raised its stake in shares of Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 13,987 shares during the period. Finally, California State Teachers Retirement System raised its stake 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 valued at $212,000 after buying an additional 1,325 shares during the period. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.