Cara Therapeutics Inc. (NASDAQ:CARA)’s share price traded up 6.5% on Wednesday . The stock traded as high as $6.32 and last traded at $6.23, with a volume of 646,575 shares changing hands. The stock had previously closed at $5.85.

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

The company’s market cap is $163.96 million. The stock’s 50 day moving average is $5.20 and its 200-day moving average is $6.57.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The business earned $0.01 million during the quarter, compared to analyst estimates of $0.03 million. Cara Therapeutics’s quarterly revenue was down 98.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) EPS. On average, equities 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 raised its stake in Cara Therapeutics Inc. (NASDAQ:CARA) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,467 shares of the biopharmaceutical company’s stock after buying an additional 2,009 shares during the period. Jennison Associates LLC owned approximately 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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