Todays Report: Today, Cara Therapeutics Inc. (CARA) PT Set at $24.00 by Cantor Fitzgerald

Today, Cara Therapeutics Inc. (CARA) PT Set at $24.00 by Cantor Fitzgerald

Cara Therapeutics Inc. (NASDAQ:CARA) has been assigned a $24.00 target price by equities research analysts at Cantor Fitzgerald in a note issued to investors on Sunday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 144.15% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. HC Wainwright initiated coverage on Cara Therapeutics in a report on Thursday, October 13th. They set a “buy” rating and a $20.00 price target on the stock. Piper Jaffray Cos. restated an “overweight” rating and set a $16.00 price target on shares of Cara Therapeutics in a report on Friday, September 23rd. Needham & Company LLC cut their price target on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Sunday, August 7th. Finally, Stifel Nicolaus cut their price target on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Ten analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $22.41.

Shares of Cara Therapeutics (NASDAQ:CARA) traded down 3.91% on Friday, hitting $9.83. The company had a trading volume of 560,381 shares. Cara Therapeutics has a 52 week low of $4.26 and a 52 week high of $17.69. The company’s market capitalization is $268.18 million. The stock’s 50-day moving average is $8.56 and its 200 day moving average is $6.62.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.05. During the same period in the previous year, the company posted ($0.19) earnings per share. Equities analysts expect that Cara Therapeutics will post ($1.78) EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Cara Therapeutics by 127.2% in the third quarter. Wells Fargo & Company MN now owns 12,007 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 6,722 shares in the last quarter. ProShare Advisors LLC boosted its position in Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 444 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Cara Therapeutics during the first quarter valued at about $112,000. Teachers Advisors Inc. boosted its position in Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 101 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 13,987 shares in the last quarter. 49.06% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

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