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

Cara Therapeutics, Inc. (NASDAQ:CARA) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.32.

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a report on Saturday. They issued a “sell” rating on the stock.

Cara Therapeutics Stock Performance

Cara Therapeutics stock opened at $0.27 on Thursday. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $1.31. The business’s 50-day simple moving average is $0.29 and its 200-day simple moving average is $0.35. The firm has a market capitalization of $14.59 million, a PE ratio of -0.15 and a beta of 0.64.

Institutional Investors Weigh In On Cara Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Cara Therapeutics in the 3rd quarter valued at $29,000. FMR LLC lifted its holdings in Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 32,789 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Cara Therapeutics by 6.6% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 120,660 shares during the period. Institutional investors own 44.66% of the company’s stock.

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.