Shares of Cara Therapeutics Inc. (NASDAQ:CARA) saw unusually-strong trading volume on Friday . Approximately 640,876 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 471,267 shares.The stock last traded at $5.58 and had previously closed at $5.00.

Several research analysts have recently issued reports on CARA shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Cara Therapeutics in a research note on Friday, May 6th. Zacks Investment Research lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cara Therapeutics in a research note on Wednesday, April 20th. Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a research note on Friday, May 6th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $23.00 price objective on shares of Cara Therapeutics in a research note on Saturday, April 23rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $21.21.

The company has a 50 day moving average of $5.23 and a 200 day moving average of $6.93. The company’s market cap is $166.15 million.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.03 million. During the same period in the previous year, the firm posted ($0.21) EPS. The firm’s revenue was down 98.6% compared to the same quarter last year. Analysts anticipate that Cara Therapeutics Inc. will post ($1.72) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cara Therapeutics stock. Jennison Associates LLC raised its stake in Cara Therapeutics Inc. (NASDAQ:CARA) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 656,467 shares of the biopharmaceutical company’s stock after buying an additional 2,009 shares during the period. Jennison Associates LLC owned about 2.41% of Cara Therapeutics worth $11,068,000 as of its most recent SEC filing.

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.

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