Cara Therapeutics (CARA) : Traders are bullish on Cara Therapeutics (CARA) as it has outperformed the S&P 500 by a wide margin of 23.82% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.12%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.17% in the last 1 week, and is up 25.1% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.83% and the 50-Day Moving Average is 13.2%. Cara Therapeutics (NASDAQ:CARA): stock turned positive on Friday. Though the stock opened at $6, the bulls momentum made the stock top out at $6.25 level for the day. The stock recorded a low of $5.98 and closed the trading day at $6.18, in the green by 2.66%. The total traded volume for the day was 540,649. The stock had closed at $6.02 in the previous days trading.
The company Insiders own 7.7% of Cara Therapeutics shares according to the proxy statements. Institutional Investors own 56.77% of Cara Therapeutics shares. During last six month period, the net percent change held by insiders has seen a change of -4.65%. Also, In a research note released to the investors, Stifel Nicolaus maintains its rating on Cara Therapeutics (NASDAQ:CARA).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Stifel Nicolaus lowers the new price target from $25 per share to $24 per share. The rating by the firm was issued on August 5, 2016.
Cara Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the bodys peripheral nervous system. Its product candidate pipeline includes I.V. CR845 for acute pain; I.V. CR845 for uremic pruritus; Oral CR845 for acute and chronic pain, and CR701 for neuropathic and inflammatory pain. CR845 is a peripherally-acting kappa opioid receptor agonist for the treatment of both acute and chronic pain. I.V. CR845 is an injectable version of its peripheral kappa opioid receptor agonist, which is designed to provide pain relief without stimulating mu opioid receptors. CR701 is a peripherally-restricted, mixed-CB1/CB2 receptor agonist that interacts with these cannabinoid receptor subtypes, with no off-target activities.