Cara Therapeutics, Inc. (NASDAQ:CARA) Receives $27.84 Consensus Target Price from Brokerages

Cara Therapeutics, Inc. (NASDAQ:CARA) has received an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have covered the stock in the last year is $27.84.

Separately, StockNews.com assumed coverage on shares of Cara Therapeutics in a research note on Wednesday, January 8th. They issued a “sell” rating on the stock.

Cara Therapeutics Price Performance

CARA stock opened at $4.86 on Friday. The company has a market capitalization of $22.21 million, a PE ratio of -0.23 and a beta of 0.51. Cara Therapeutics has a 12 month low of $2.71 and a 12 month high of $13.80. The firm’s 50-day moving average is $4.34 and its 200 day moving average is $3.96.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Cara Therapeutics by 18.5% during the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 32,789 shares during the period. XTX Topco Ltd purchased a new position in Cara Therapeutics during the 3rd quarter valued at about $29,000. Finally, Disciplined Growth Investors Inc. MN increased its position in Cara Therapeutics by 6.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 120,660 shares during the period. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company’s lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.