Cara Therapeutics, Inc., an early commercial-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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. 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. Its product candidate includes Oral KORSUVA (difelikefalin), which has completed Phase II clinical trial to treat pruritus atopic dermatitis and pruritus non-dialysis-dependent chronic kidney disease (NDD-CKD) associated pruritus; and in Phase II clinical trial to treat pruritus chronic liver disease (CLD) primary biliary cholangitis (PBC) and notalgia paresthetica. The company has license agreements with Maruishi Pharmaceutical Co., Ltd to develop, manufacture, and commercialize drug products containing difelikefalin for acute pain and uremic pruritus in Japan; and Chong Kun Dang Pharmaceutical Corporation to develop, manufacture, and commercialize drug products containing difelikefalin in South Korea. Cara Therapeutics, Inc. was incorporated in 2004 and is based in Stamford, Connecticut.
Analysts Set New Price Targets
Separately, StockNews.com raised Cara Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, May 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.80.
Cara Therapeutics Stock Performance
Cara Therapeutics stock traded down $0.39 during midday trading on Tuesday, reaching $11.36. The company's stock had a trading volume of 2,395 shares, compared to its average volume of 559,090. Cara Therapeutics has a 52 week low of $7.40 and a 52 week high of $18.93. The business has a 50-day moving average price of $9.39 and a 200-day moving average price of $10.24.
Insider Activity at Cara Therapeutics
In related news, Director Jeffrey L. Ives sold 3,600 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $9.05, for a total value of $32,580.00. Following the completion of the transaction, the director now owns 15,476 shares of the company's stock, valued at approximately $140,057.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.