Analysts Set Cara Therapeutics, Inc. (NASDAQ:CARA) Target Price at $27.84

Cara Therapeutics, Inc. (NASDAQ:CARA) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $27.84.

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a research report on Wednesday, January 8th. They issued a “sell” rating on the stock.

Cara Therapeutics Trading Up 2.0 %

CARA opened at $5.12 on Tuesday. The company has a market cap of $23.40 million, a P/E ratio of -0.24 and a beta of 0.50. The company’s 50 day moving average is $4.90 and its 200-day moving average is $4.06. Cara Therapeutics has a 1-year low of $2.71 and a 1-year high of $13.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Curi RMB Capital LLC bought a new stake in Cara Therapeutics during the 4th quarter worth approximately $277,000. Shay Capital LLC bought a new position in shares of Cara Therapeutics during the fourth quarter valued at $524,000. XTX Topco Ltd acquired a new position in shares of Cara Therapeutics during the third quarter worth $29,000. Rockefeller Capital Management L.P. bought a new stake in shares of Cara Therapeutics in the fourth quarter worth $953,000. Finally, FMR LLC grew its stake in shares of Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares during the last quarter. Institutional investors and hedge funds 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.