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

Several research firms recently issued reports on CARA. Needham & Company LLC cut their target price on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Sunday, August 7th. Stifel Nicolaus cut their price objective on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cara Therapeutics in a research report on Friday, August 5th. Zacks Investment Research cut Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 price objective on shares of Cara Therapeutics in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock currently 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 $5.54 and a 200 day moving average price of $6.05.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the Zacks’ 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 period last year, the firm posted ($0.25) earnings per share. The company’s revenue was down 91.0% compared to the same quarter last year. Equities analysts predict 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 13F filing with the Securities and Exchange Commission (SEC). 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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