StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on CARA. JPMorgan Chase & Co. dropped their price target on shares of Cara Therapeutics from $19.00 to $16.00 and set an overweight rating on the stock in a research note on Tuesday, March 7th. Canaccord Genuity Group lowered their target price on shares of Cara Therapeutics from $29.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, March 7th. Piper Sandler lowered their target price on shares of Cara Therapeutics from $25.00 to $13.00 and set an overweight rating on the stock in a research report on Tuesday, March 7th. Bank of America downgraded shares of Cara Therapeutics from a neutral rating to an underperform rating and lowered their target price for the stock from $13.00 to $6.00 in a research report on Tuesday, March 7th. Finally, HC Wainwright decreased their price target on shares of Cara Therapeutics from $25.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $17.00.
Cara Therapeutics Price Performance
Shares of NASDAQ:CARA opened at $5.48 on Thursday. The company’s fifty day moving average is $10.07 and its two-hundred day moving average is $10.30. Cara Therapeutics has a 12-month low of $5.37 and a 12-month high of $13.97.
Insider Transactions at Cara Therapeutics
Hedge Funds Weigh In On Cara Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in shares of Cara Therapeutics by 27.7% during the first quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,302 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Cara Therapeutics by 17.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 7,111 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 1,078 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cara Therapeutics by 29.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,610 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 1,724 shares during the period. Cetera Advisor Networks LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $93,000. Finally, Rafferty Asset Management LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $97,000. 69.26% of the stock is owned by institutional investors.
Cara Therapeutics Company Profile
CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.
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