Cara Therapeutics Inc. (NASDAQ:CARA)‘s stock had its “outperform” rating restated by equities research analysts at Scotiabank in a research note issued on Thursday. They currently have a $32.00 price target on the biopharmaceutical company’s stock. Scotiabank’s target price would suggest a potential upside of 225.53% from the company’s current price.

Several other equities research analysts also recently issued reports on CARA. Cantor Fitzgerald reissued a “buy” rating on shares of Cara Therapeutics in a research note on Friday, August 5th. Stifel Nicolaus reduced their price objective on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Needham & Company LLC reduced their price objective on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Sunday, August 7th. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $16.00 price objective on shares of Cara Therapeutics in a research note on Friday, September 23rd. Ten investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $22.41.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA) opened at 9.83 on Thursday. The firm has a 50-day moving average price of $8.56 and a 200-day moving average price of $6.62. The stock’s market cap is $268.18 million. Cara Therapeutics has a 12-month low of $4.26 and a 12-month high of $17.69.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) EPS 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) EPS. Analysts forecast that Cara Therapeutics will post ($1.78) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC raised 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 in the last quarter. Opaleye Management Inc. raised 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 in the last quarter. CAM Group Holding A S raised 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 in the last quarter. California State Teachers Retirement System raised 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 in the last quarter. Finally, Janney Montgomery Scott LLC raised 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 in the last quarter. 46.08% 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

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