Piper Sandler Reiterates “Neutral” Rating for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA)‘s stock had its “neutral” rating reiterated by Piper Sandler in a research note issued on Tuesday, Benzinga reports.

A number of other brokerages have also recently weighed in on CARA. StockNews.com assumed coverage on Cara Therapeutics in a research report on Thursday, October 5th. They issued a “sell” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Cara Therapeutics in a research note on Tuesday, August 8th. HC Wainwright dropped their price target on Cara Therapeutics from $15.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, October 19th. Finally, Stifel Nicolaus reduced their price objective on Cara Therapeutics from $28.00 to $25.00 in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.86.

Cara Therapeutics Trading Down 3.6 %

Shares of CARA traded down $0.04 during trading hours on Tuesday, reaching $1.06. The company had a trading volume of 319,654 shares, compared to its average volume of 827,078. Cara Therapeutics has a 12-month low of $1.02 and a 12-month high of $12.81. The firm has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $2.57. The company has a market capitalization of $57.75 million, a price-to-earnings ratio of -0.50 and a beta of 0.94.

Hedge Funds Weigh In On Cara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CARA. Federated Hermes Inc. raised its position in shares of Cara Therapeutics by 27.7% in the 1st quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 1,302 shares during the period. Tower Research Capital LLC TRC increased its stake in Cara Therapeutics by 117.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,070 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 4,896 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Cara Therapeutics in the 2nd quarter worth about $93,000. Jag Capital Management LLC acquired a new position in shares of Cara Therapeutics in the 2nd quarter valued at about $32,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Cara Therapeutics during the 1st quarter worth about $58,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

About Cara Therapeutics

Cara Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of 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.