Scotiabank reiterated their outperform rating on shares of Cara Therapeutics Inc. (NASDAQ:CARA) in a research note issued to investors on Thursday morning, StockTargetPrices.com reports. The brokerage currently has a $32.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on the stock. HC Wainwright set a $20.00 price objective on shares of Cara Therapeutics and gave the company a buy rating in a report on Tuesday, November 22nd. Piper Jaffray Cos. reaffirmed an overweight rating and set a $21.00 target price (up from $16.00) on shares of Cara Therapeutics in a report on Tuesday, November 15th. CIBC reduced their target price on shares of Cara Therapeutics from $29.00 to $28.00 in a report on Friday, November 11th. Zacks Investment Research raised shares of Cara Therapeutics from a hold rating to a buy rating and set a $9.50 target price for the company in a report on Tuesday, November 8th. Finally, Cantor Fitzgerald set a $24.00 target price on shares of Cara Therapeutics and gave the company a buy rating in a report on Sunday, November 6th. Ten equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $22.41.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA) opened at 9.45 on Thursday. The stock’s 50 day moving average is $8.58 and its 200-day moving average is $6.66. The company’s market capitalization is $257.81 million. Cara Therapeutics has a 52-week low of $4.26 and a 52-week high of $17.69.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.05. During the same quarter in the previous year, the firm earned ($0.19) EPS. Analysts predict that Cara Therapeutics will post ($1.78) EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of CARA. CAM Group Holding A S raised its position in Cara Therapeutics by 2.3% in the second quarter. CAM Group Holding A S now owns 268,000 shares of the biopharmaceutical company’s stock worth $1,289,000 after buying an additional 6,000 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Cara Therapeutics by 91.6% in the second quarter. Janney Montgomery Scott LLC now owns 94,117 shares of the biopharmaceutical company’s stock worth $991,000 after buying an additional 44,989 shares during the last quarter. A.R.T. Advisors LLC raised its position in Cara Therapeutics by 798.6% in the first quarter. A.R.T. Advisors LLC now owns 139,303 shares of the biopharmaceutical company’s stock worth $866,000 after buying an additional 123,800 shares during the last quarter. National Planning Corp purchased a new position in Cara Therapeutics during the second quarter worth $332,000. Finally, Opaleye Management Inc. raised its position in Cara Therapeutics by 100.2% in the first quarter. Opaleye Management Inc. now owns 855,000 shares of the biopharmaceutical company’s stock worth $5,318,000 after buying an additional 428,000 shares during the last quarter. Institutional investors and hedge funds own 46.08% of the company’s stock.

About Cara Therapeutics

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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