Brokerages Set Cara Therapeutics, Inc. (NASDAQ:CARA) Price Target at $2.32

Cara Therapeutics, Inc. (NASDAQ:CARA) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.32.

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a research note on Tuesday, November 5th. They set a “sell” rating for the company.

Cara Therapeutics Price Performance

Shares of CARA opened at $0.34 on Friday. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $1.31. The stock has a market capitalization of $18.70 million, a P/E ratio of -0.17 and a beta of 0.68. The company has a 50 day moving average of $0.29 and a 200-day moving average of $0.40.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. On average, sell-side analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

A hedge fund recently raised its stake in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,935,718 shares of the biopharmaceutical company’s stock after buying an additional 120,660 shares during the quarter. Disciplined Growth Investors Inc. MN owned approximately 3.54% of Cara Therapeutics worth $499,000 at the end of the most recent reporting period. 44.66% of the stock is currently owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company’s lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.