Cara Therapeutics Inc. (NASDAQ:CARA) has been assigned a $24.00 price target by Cantor Fitzgerald in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 166.67% from the company’s current price.

CARA has been the topic of a number of other research reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $16.00 price objective on shares of Cara Therapeutics in a research report on Friday, September 23rd. Zacks Investment Research raised shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 1st. CIBC cut their price objective on shares of Cara Therapeutics from $29.00 to $28.00 in a research report on Friday, November 11th. Scotiabank reissued an “outperform” rating and set a $32.00 price objective on shares of Cara Therapeutics in a research report on Thursday, November 24th. Finally, HC Wainwright reissued a “buy” rating on shares of Cara Therapeutics in a research report on Tuesday, November 8th. Ten research analysts have rated the stock with a buy rating, The company currently has a consensus 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 9.00 on Tuesday. Cara Therapeutics has a one year low of $4.26 and a one year high of $17.69. The stock’s 50 day moving average price is $8.58 and its 200-day moving average price is $6.66. The company’s market cap is $245.54 million.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.05. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, analysts expect that Cara Therapeutics will post ($1.78) EPS for the current year.

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Large investors have recently bought and sold shares of the stock. Pictet Asset Management Ltd. raised its stake in 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 during the period. BlackRock Institutional Trust Company N.A. raised its stake in 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 during the period. Morgan Stanley raised its stake in 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 period. A.R.T. Advisors LLC raised its stake in 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 valued at $866,000 after buying an additional 123,800 shares during the period. Finally, Susquehanna International Group LLP raised its stake in 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 during the period. Hedge funds and other institutional investors own 46.08% 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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