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

The stock’s market capitalization is $163.42 million. The company has a 50-day moving average of $5.67 and a 200-day moving average of $5.97.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by $0.06. The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.13 million. The company’s quarterly revenue was down 91.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS. On average, equities analysts forecast that Cara Therapeutics Inc. will post ($1.81) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cara Therapeutics stock. Jennison Associates LLC increased its stake 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 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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