Cara Therapeutics Inc. (NASDAQ:CARA) was down 2% on Tuesday . The company traded as low as $5.94 and last traded at $5.94, with a volume of 190,941 shares trading hands. The stock had previously closed at $6.06.

A number of equities research analysts have weighed in on CARA shares. Zacks Investment Research upgraded Cara Therapeutics from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Wednesday, July 6th. Canaccord Genuity restated a “buy” rating and set a $30.00 price objective on shares of Cara Therapeutics in a research note on Friday, May 6th. Needham & Company LLC restated a “buy” rating on shares of Cara Therapeutics in a research note on Friday, May 6th. Cantor Fitzgerald restated a “buy” rating on shares of Cara Therapeutics in a research note on Thursday, August 11th. Finally, Stifel Nicolaus decreased their target price on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.06.

The stock has a 50 day moving average of $5.69 and a 200 day moving average of $5.95. The company’s market cap is $151.69 million.

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

A hedge fund recently raised its stake in Cara Therapeutics stock. Jennison Associates LLC increased its position in Cara Therapeutics Inc. (NASDAQ:CARA) by 0.3% during the fourth quarter, according to its most recent disclosure with the 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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