Cara Therapeutics, Inc. (NASDAQ:CARA) Receives $2.32 Consensus Price Target from Brokerages

Cara Therapeutics, Inc. (NASDAQ:CARA) has been assigned a consensus rating of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $27.84.

Separately, StockNews.com started coverage on shares of Cara Therapeutics in a research report on Tuesday, December 31st. They set a “sell” rating on the stock.

Cara Therapeutics Stock Performance

Shares of NASDAQ:CARA opened at $5.22 on Monday. The business has a 50-day simple moving average of $3.95 and a two-hundred day simple moving average of $3.80. The firm has a market cap of $23.85 million, a price-to-earnings ratio of -2.98 and a beta of 0.51. Cara Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $13.80.

Institutional Investors Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Cara Therapeutics during the third quarter valued at approximately $29,000. FMR LLC boosted its stake 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 acquiring an additional 32,789 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of Cara Therapeutics by 6.6% during 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 acquiring an additional 120,660 shares during the period. 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.