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

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have been assigned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have covered the stock in the last year is $27.84.

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a report on Tuesday. They issued a “sell” rating for the company.

Cara Therapeutics Stock Up 43.7 %

Cara Therapeutics stock opened at $6.12 on Monday. The business’s 50-day moving average price is $3.86 and its 200 day moving average price is $3.76. Cara Therapeutics has a 52 week low of $2.71 and a 52 week high of $13.80. The firm has a market cap of $335.72 million, a price-to-earnings ratio of -3.50 and a beta of 0.64.

Hedge Funds Weigh In On Cara Therapeutics

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

About Cara Therapeutics

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.