Cara Therapeutics Inc. (NASDAQ:CARA) shares saw an uptick in trading volume on Friday . 1,312,039 shares changed hands 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.

A number of brokerages have issued reports on CARA. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Cara Therapeutics in a research note on Sunday. Stifel Nicolaus decreased 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. Cantor Fitzgerald reissued a “buy” rating on shares of Cara Therapeutics in a research note on Friday. Zacks Investment Research lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, Canaccord Genuity reissued a “buy” rating and set a $30.00 target price on shares of Cara Therapeutics in a research note on Friday, May 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $21.06.

The firm’s market capitalization is $163.42 million. The stock’s 50 day moving average is $5.30 and its 200-day moving average is $6.34.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data 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 in the prior year, the company earned ($0.25) EPS. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.13 million. Cara Therapeutics’s revenue for the quarter was down 91.0% compared to the same quarter last year. On average, equities research analysts forecast that Cara Therapeutics Inc. will post ($1.84) earnings per share for the current year.

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