Cara Therapeutics Inc. (NASDAQ:CARA) had its target price cut by equities research analysts at Scotiabank from $33.50 to $32.00 in a note issued to investors on Friday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Scotiabank’s price target points to a potential upside of 243.35% from the company’s current price.

Other analysts also recently issued reports about the company. CIBC decreased their price target on Cara Therapeutics from $29.00 to $28.00 in a research note on Friday. HC Wainwright started coverage on Cara Therapeutics in a research note on Thursday, October 13th. They issued a “buy” rating and a $20.00 price target on the stock. Needham & Company LLC decreased their price target on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Sunday, August 7th. Stifel Nicolaus decreased their price target on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, August 5th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Cara Therapeutics in a research note on Friday, August 5th. Ten investment analysts have rated the stock with a buy rating, Cara Therapeutics presently has an average rating of “Buy” and an average price target of $21.95.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.05. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, equities analysts expect that Cara Therapeutics will post ($1.78) EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the company. Pictet Asset Management Ltd. boosted its position in shares of Cara Therapeutics by 564.9% in the second quarter. Pictet Asset Management Ltd. now owns 775,898 shares of the biopharmaceutical company’s stock valued at $5,012,000 after buying an additional 659,198 shares in the last quarter. Opaleye Management Inc. boosted its position in shares of Cara Therapeutics by 100.2% in the first quarter. Opaleye Management Inc. now owns 855,000 shares of the biopharmaceutical company’s stock valued at $5,318,000 after buying an additional 428,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cara Therapeutics by 46.8% in the first quarter. JPMorgan Chase & Co. now owns 513,382 shares of the biopharmaceutical company’s stock valued at $3,194,000 after buying an additional 163,772 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Cara Therapeutics by 32.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 551,181 shares of the biopharmaceutical company’s stock valued at $4,602,000 after buying an additional 134,396 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Cara Therapeutics by 304.6% in the third quarter. Morgan Stanley now owns 172,819 shares of the biopharmaceutical company’s stock valued at $1,442,000 after buying an additional 130,102 shares in the last quarter. 49.16% of the stock is owned by hedge funds and other institutional investors.

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

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