Shares of Cara Therapeutics Inc. (NASDAQ:CARA) fell 2% during mid-day trading on Tuesday . The stock traded as low as $5.71 and last traded at $5.96, with a volume of 733,644 shares traded. The stock had previously closed at $6.08.

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

The company’s 50-day moving average price is $5.20 and its 200-day moving average price is $6.57. The stock’s market cap is $159.60 million.

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

A hedge fund recently raised its stake in Cara Therapeutics stock. GSA Capital Partners LLP boosted its stake in Cara Therapeutics Inc. (NASDAQ:CARA) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,073 shares of the biopharmaceutical company’s stock after buying an additional 20,754 shares during the period. GSA Capital Partners LLP owned approximately 0.33% of Cara Therapeutics worth $1,535,000 at the end of the most recent reporting period.

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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