Cara Therapeutics Inc. (NASDAQ:CARA) dropped 0.6% during mid-day trading on Wednesday . The company traded as low as $7.00 and last traded at $7.23, with a volume of 1,779,841 shares changing hands. The stock had previously closed at $7.27.

CARA has been the topic of a number of analyst reports. Cantor Fitzgerald set a $24.00 target price on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Thursday, September 15th. Stifel Nicolaus lowered their target price on shares of Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Zacks Investment Research cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Needham & Company LLC lowered their target price on shares of Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Sunday, August 7th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Cara Therapeutics has a consensus rating of “Buy” and a consensus price target of $20.56.

The firm has a 50-day moving average of $6.01 and a 200-day moving average of $5.86. The stock’s market cap is $204.89 million.

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Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.06. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.13 million. During the same quarter in the prior year, the company earned ($0.25) EPS. The company’s revenue was down 91.0% compared to the same quarter last year. Equities analysts expect that Cara Therapeutics Inc. will post ($1.81) EPS for the current year.

A number of large investors have recently modified their holdings of the company. Pictet Asset Management Ltd. boosted its stake in shares of Cara Therapeutics by 564.9% in the second quarter. Pictet Asset Management Ltd. now owns 775,898 shares of the biopharmaceutical company’s stock valued at $5,012,000 after buying an additional 659,198 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Cara Therapeutics by 100.2% in the first quarter. Opaleye Management Inc. now owns 855,000 shares of the biopharmaceutical company’s stock valued at $5,318,000 after buying an additional 428,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cara Therapeutics by 46.8% in the first quarter. JPMorgan Chase & Co. now owns 513,382 shares of the biopharmaceutical company’s stock valued at $3,194,000 after buying an additional 163,772 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in shares of Cara Therapeutics by 798.6% in the first quarter. A.R.T. Advisors LLC now owns 139,303 shares of the biopharmaceutical company’s stock valued at $866,000 after buying an additional 123,800 shares in the last quarter. Finally, Bridgeway Capital Management Inc. boosted its stake in shares of Cara Therapeutics by 123.6% in the second quarter. Bridgeway Capital Management Inc. now owns 131,646 shares of the biopharmaceutical company’s stock valued at $633,000 after buying an additional 72,779 shares in the last quarter. Institutional investors own 48.67% of the company’s stock.

About Cara Therapeutics

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.

5 Day Chart for NASDAQ:CARA

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