Cara Therapeutics Inc. (NASDAQ:CARA) has been assigned a $20.00 price target by HC Wainwright in a report issued on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 95.50% from the stock’s previous close.

Other analysts have also issued research reports about the stock. CIBC dropped their target price on shares of Cara Therapeutics from $29.00 to $28.00 in a research report on Friday, November 11th. 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. Stifel Nicolaus dropped their target price 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. Cantor Fitzgerald reiterated a “buy” rating on shares of Cara Therapeutics in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, November 8th. Ten equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $22.41.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Shares of Cara Therapeutics (NASDAQ:CARA) opened at 10.23 on Tuesday. The firm’s 50-day moving average is $8.57 and its 200-day moving average is $6.59. The stock’s market capitalization is $279.09 million. Cara Therapeutics has a 52 week low of $4.26 and a 52 week high of $17.69.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.05. During the same quarter last year, the business posted ($0.19) earnings per share. Analysts forecast that Cara Therapeutics will post ($1.78) earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of CARA. A.R.T. Advisors LLC increased its position in shares of 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. Opaleye Management Inc. increased 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 worth $5,318,000 after buying an additional 428,000 shares during the period. CAM Group Holding A S increased 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 period. California State Teachers Retirement System increased 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 period. Finally, Janney Montgomery Scott LLC increased its position in shares of Cara Therapeutics by 91.6% in the second quarter. Janney Montgomery Scott LLC now owns 94,117 shares of the biopharmaceutical company’s stock worth $991,000 after buying an additional 44,989 shares during the period. 49.06% of the stock is currently owned by institutional investors.

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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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