Cara Therapeutics (NASDAQ:CARA) was the target of some unusual options trading activity on Thursday. Traders acquired 6,902 call options on the stock. This is an increase of approximately 985% compared to the typical volume of 636 call options.

Cara Therapeutics opened at $15.56 on Friday, Marketbeat.com reports. The company has a market cap of $541.51 million, a P/E ratio of -8.37 and a beta of 2.96. Cara Therapeutics has a fifty-two week low of $11.11 and a fifty-two week high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.04). analysts expect that Cara Therapeutics will post -2.16 earnings per share for the current fiscal year.

Several research firms have recently weighed in on CARA. Laidlaw set a $26.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research note on Thursday. HC Wainwright increased their price target on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus increased their price target on shares of Cara Therapeutics to $20.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Seaport Global Securities reissued a “buy” rating on shares of Cara Therapeutics in a research note on Friday, March 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.37.

Several large investors have recently bought and sold shares of the stock. Nexthera Capital LP purchased a new position in shares of Cara Therapeutics during the 1st quarter worth approximately $4,346,000. LPL Financial LLC boosted its position in shares of Cara Therapeutics by 51.6% during the 1st quarter. LPL Financial LLC now owns 112,571 shares of the biopharmaceutical company’s stock worth $1,394,000 after purchasing an additional 38,335 shares during the period. ETF Managers Group LLC boosted its position in Cara Therapeutics by 165.8% in the 1st quarter. ETF Managers Group LLC now owns 337,486 shares of the biopharmaceutical company’s stock valued at $3,992,000 after buying an additional 210,534 shares during the period. UBS Group AG boosted its position in Cara Therapeutics by 359.1% in the 1st quarter. UBS Group AG now owns 178,260 shares of the biopharmaceutical company’s stock valued at $2,207,000 after buying an additional 139,436 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Cara Therapeutics by 34.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 23,206 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 5,889 shares during the period. 54.43% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.

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