Cara Therapeutics, Inc. (NASDAQ:CARA) Receives $2.32 Consensus PT from Analysts

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

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research note on Tuesday. They issued a “sell” rating on the stock.

Cara Therapeutics Stock Performance

Shares of CARA opened at $6.12 on Monday. The stock has a market capitalization of $335.72 million, a PE ratio of -3.50 and a beta of 0.64. Cara Therapeutics has a 1 year low of $2.71 and a 1 year high of $13.80. The company’s 50-day simple moving average is $3.86 and its 200-day simple moving average is $3.76.

Hedge Funds Weigh In On Cara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARA. Disciplined Growth Investors Inc. MN boosted its stake 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 acquiring an additional 120,660 shares in the last quarter. FMR LLC grew 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, XTX Topco Ltd acquired a new position in Cara Therapeutics in the 3rd quarter valued at $29,000. 44.66% of the stock is owned by institutional investors and hedge funds.

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.