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

Cara Therapeutics, Inc. (NASDAQ:CARA) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average 12-month price target 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 report on Wednesday, January 8th. They set a “sell” rating for the company.

Institutional Investors Weigh In On Cara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Curi RMB Capital LLC acquired a new stake in shares of Cara Therapeutics during the 4th quarter worth approximately $277,000. Shay Capital LLC acquired a new stake in shares of Cara Therapeutics during the 4th quarter worth approximately $524,000. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics during the 3rd quarter worth approximately $29,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Cara Therapeutics during the 4th quarter worth approximately $953,000. Finally, FMR LLC grew its position in shares of Cara Therapeutics by 18.5% during the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 32,789 shares during the period. Institutional investors and hedge funds own 44.66% of the company’s stock.

Cara Therapeutics Stock Performance

NASDAQ:CARA opened at $5.12 on Friday. The company has a 50-day moving average of $4.94 and a 200-day moving average of $4.15. The company has a market capitalization of $23.42 million, a price-to-earnings ratio of -0.24 and a beta of 0.50. Cara Therapeutics has a 52 week low of $2.71 and a 52 week high of $11.52.

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.