Shares of Cara Therapeutics Inc. (NASDAQ:CARA) were down 2.6% on Tuesday . The stock traded as low as $6.21 and last traded at $6.39, with a volume of 422,662 shares trading hands. The stock had previously closed at $6.56.

Several analysts have recently weighed in on CARA shares. Zacks Investment Research downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Needham & Company LLC lowered their target price on shares of Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Sunday, August 7th. Stifel Nicolaus lowered their target price on shares of Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cara Therapeutics in a report on Friday, August 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Cara Therapeutics has a consensus rating of “Buy” and a consensus target price of $21.06.

The company’s market cap is $171.60 million. The company has a 50 day moving average price of $5.49 and a 200-day moving average price of $6.07.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.42) by $0.06. The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.13 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. The business’s quarterly revenue was down 91.0% on a year-over-year basis. On average, analysts forecast that Cara Therapeutics Inc. will post ($1.81) EPS for the current year.

A hedge fund recently raised its stake in Cara Therapeutics stock. Jennison Associates LLC increased 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. 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 2.41% of Cara Therapeutics worth $11,068,000 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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