Brokerages Set Cara Therapeutics, Inc. (NASDAQ:CARA) PT at $27.84

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation. The average 1-year price target 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 report on Wednesday, January 8th. They issued a “sell” rating on the stock.

Cara Therapeutics Price Performance

Shares of NASDAQ:CARA opened at $4.97 on Tuesday. The company has a market capitalization of $22.71 million, a price-to-earnings ratio of -0.24 and a beta of 0.50. The firm’s 50 day simple moving average is $4.94 and its 200 day simple moving average is $4.07. Cara Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $13.80.

Institutional Trading of Cara Therapeutics

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in Cara Therapeutics by 18.5% during the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 32,789 shares during the period. XTX Topco Ltd acquired a new stake in Cara Therapeutics during the 3rd quarter worth approximately $29,000. Shay Capital LLC acquired a new stake in Cara Therapeutics during the 4th quarter worth approximately $524,000. Rockefeller Capital Management L.P. acquired a new stake in Cara Therapeutics during the 4th quarter worth approximately $953,000. Finally, Curi RMB Capital LLC acquired a new stake in Cara Therapeutics during the 4th quarter worth approximately $277,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

About Cara Therapeutics

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.