Cara Therapeutics Inc. (NASDAQ:CARA) shares traded up 4.5% during trading on Wednesday . The stock traded as high as $6.09 and last traded at $6.04, with a volume of 343,507 shares. The stock had previously closed at $5.78.

Several research analysts have recently commented on the company. Cantor Fitzgerald reiterated a “buy” rating on shares of Cara Therapeutics in a report on Friday. Needham & Company LLC reiterated a “buy” rating on shares of Cara Therapeutics in a report on Friday, May 6th. Zacks Investment Research lowered Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 price target on shares of Cara Therapeutics in a report on Saturday, April 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $30.00 price target on shares of Cara Therapeutics in a report on Friday, May 6th. One 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 a consensus price target of $21.21.

The stock has a 50 day moving average price of $5.28 and a 200 day moving average price of $6.34. The firm’s market capitalization is $143.51 million.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.06. During the same quarter last year, the business earned ($0.25) earnings per share. The business earned $0.08 million during the quarter, compared to the consensus estimate of $0.13 million. The business’s revenue was down 91.0% compared to the same quarter last year. On average, analysts predict that Cara Therapeutics Inc. will post ($1.72) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Cara Therapeutics stock. GSA Capital Partners LLP boosted its stake in shares of Cara Therapeutics Inc. (NASDAQ:CARA) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 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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