Cara Therapeutics Inc. (NASDAQ:CARA) shares saw unusually-high trading volume on Friday . Approximately 1,312,039 shares were traded during trading, an increase of 37% from the previous session’s volume of 960,778 shares.The stock last traded at $5.35 and had previously closed at $5.94.

CARA has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cara Therapeutics in a report on Friday. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a research note on Friday, May 6th. Needham & Company LLC reiterated a “buy” rating on shares of Cara Therapeutics in a research note on Thursday, April 21st. Stifel Nicolaus cut their target price on shares of Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $21.56.

The company’s market capitalization is $163.42 million. The firm has a 50-day moving average of $5.30 and a 200-day moving average of $6.34.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.06. The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.13 million. The firm’s revenue for the quarter was down 91.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.25) earnings per share. On average, equities analysts expect that Cara Therapeutics Inc. will post ($1.74) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Cara Therapeutics stock. Jennison Associates LLC raised its stake in shares of 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 (SEC). 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 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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