Cara Therapeutics Inc. (NASDAQ:CARA) shot up 6.3% on Monday . The company traded as high as $6.76 and last traded at $6.57, with a volume of 569,943 shares trading hands. The stock had previously closed at $6.18.

A number of research firms have weighed in on CARA. Needham & Company LLC restated a “buy” rating on shares of Cara Therapeutics in a research report on Friday, May 6th. Zacks Investment Research downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Piper Jaffray Cos. restated an “overweight” rating and set a $23.00 price target on shares of Cara Therapeutics in a research report on Saturday, April 23rd. Cantor Fitzgerald restated a “buy” rating on shares of Cara Therapeutics in a research report on Wednesday, April 20th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective on shares of Cara Therapeutics in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.06.

The firm’s market cap is $178.97 million. The stock’s 50-day moving average price is $5.44 and its 200 day moving average price is $6.15.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results 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 the consensus estimate of $0.13 million. The business’s revenue for the quarter was down 91.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) earnings per share. 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 boosted its stake in 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 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 approximately 2.41% of Cara Therapeutics worth $11,068,000 as of its most recent filing with the SEC.

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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