Shares of Cara Therapeutics Inc. (NASDAQ:CARA) saw an uptick in trading volume on Friday . 640,876 shares traded hands 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 firms have issued reports on CARA. Needham & Company LLC restated a “buy” rating on shares of Cara Therapeutics in a research note on Friday, May 6th. Zacks Investment Research lowered Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Piper Jaffray Cos. restated an “overweight” rating and issued a $23.00 price objective on shares of Cara Therapeutics in a research note on Saturday, April 23rd. Cantor Fitzgerald restated a “buy” rating on shares of Cara Therapeutics in a research note on Wednesday, April 20th. Finally, Canaccord Genuity restated a “buy” rating and issued a $30.00 price objective on shares of Cara Therapeutics in a research note on Friday, May 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.21.

The firm has a 50-day moving average price of $5.22 and a 200 day moving average price of $6.86. The stock’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, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The firm earned $0.01 million during the quarter, compared to analyst estimates of $0.03 million. The business’s quarterly revenue was down 98.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Equities research analysts expect that Cara Therapeutics Inc. will post ($1.72) EPS for the current year.

An institutional investor recently raised its position in Cara Therapeutics stock. Jennison Associates LLC increased its position in shares of 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 institutional investor 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 filing with the SEC.

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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