Cara Therapeutics Inc. (NASDAQ:CARA)‘s stock had its “overweight” rating reissued by stock analysts at Piper Jaffray Cos. in a report issued on Tuesday. They currently have a $21.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $16.00. Piper Jaffray Cos.’s price target suggests a potential upside of 72.13% from the stock’s current price.

A number of other brokerages have also weighed in on CARA. Cantor Fitzgerald set a $24.00 price target on Cara Therapeutics and gave the stock a “buy” rating in a research note on Thursday, September 15th. Stifel Nicolaus reduced 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. Scotiabank reduced their price target on Cara Therapeutics from $33.50 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 11th. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, HC Wainwright restated a “buy” rating on shares of Cara Therapeutics in a report on Tuesday, November 8th. Ten research analysts have rated the stock with a buy rating, Cara Therapeutics currently has an average rating of “Buy” and an average target price of $22.41.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA) opened at 12.20 on Tuesday. Cara Therapeutics has a 12-month low of $4.26 and a 12-month high of $17.69. The stock’s market capitalization is $332.84 million. The company has a 50-day moving average price of $8.22 and a 200-day moving average price of $6.41.

Cara Therapeutics (NASDAQ:CARA) last issued 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 business posted ($0.19) EPS. On average, equities research analysts forecast that Cara Therapeutics will post ($1.78) earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP increased its stake in shares of Cara Therapeutics by 403.3% in the third quarter. Susquehanna International Group LLP now owns 111,662 shares of the biopharmaceutical company’s stock valued at $932,000 after buying an additional 89,474 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $248,000. 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 during the last quarter. Northern Trust Corp boosted its position in shares of Cara Therapeutics by 9.7% in the third quarter. Northern Trust Corp now owns 237,624 shares of the biopharmaceutical company’s stock valued at $1,984,000 after buying an additional 20,980 shares during the last quarter. Finally, Princeton Alpha Management LP bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $369,000. Institutional investors own 49.16% 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

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