At what point in time would I choose to purchase Cara Therapeutics, Inc. (NASDAQ:CARA) stock?

The trading price of Cara Therapeutics, Inc. (NASDAQ:CARA) closed higher on Tuesday, Apr 06, closing at $23.82, 13.98% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $26.31 and $28.25. The company’s P/E ratio in the trailing 12-month period was 822.73, while its 5Y monthly beta was 1.31. In examining the 52-week price action we see that the stock hit a 52-week high of $23.89 and a 52-week low of $12.3. Over the past month, the stock has gained 50.08% in value.

Cara Therapeutics, Inc., whose market valuation is $1.35 Billion at the time of this writing, is expected to release its quarterly earnings report in May 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.59 per share this quarter, however they have predicted annual earnings per share of -$1.92 for 2021 and -$0.83 for 2022. It means analysts are expecting annual earnings per share growth of -11.67% this year and -0.57% next year.

On the technical side, indicators suggest CARA has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CARA a recommendation rating is 7. Out of them, 1 rate it a Hold, while 6 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Cara Therapeutics, Inc. (CARA) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CARA’s price is currently 36.47% off the SMA20 and 38.42% off the SMA50. The RSI metric on the 14-day chart is currently showing 84.57, and weekly volatility stands at 6.46%. When measured over the past 30 days, the indicator reaches 5.03%. Cara Therapeutics, Inc. (NASDAQ:CARA)’s beta value is currently sitting at 1.31, while the Average True Range indicator is currently displaying 1.29. With analysts defining $21-$47 as the low and high price targets, we arrive at a consensus price target of $34.43 for the trailing 12-month period. The current price is about -22.65% off the estimated low and 73.11% off the forecast high, based on this estimate. Investors will be thrilled if CARA’s share price rises to $35, which is the median consensus price. At that level, CARA’s share price would be +28.91% above current price.

To see how Cara Therapeutics, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: CARA stock’s performance was +13.98% in the latest trading, and +111.78% in the past year, while Amgen Inc (AMGN) has traded -1.16% on the day and positioned +21.27% higher than it was a year ago. Another comparable company Bristol-Myers Squibb Company (BMY) saw its stock close -1.87% lower in the most recent trading session but was up +11.62% in a year. Furthermore, Gilead Sciences Inc (GILD) showed an increase of 13.98% on the day while its price kept rising at 111.78% over the past year. Cara Therapeutics, Inc. has a P/E ratio of 822.73, compared to Amgen Inc’s 20.23 and Bristol-Myers Squibb Company’s 0. Also in last trading session, the S&P 500 Index has soared -0.1%, while the Dow Jones Industrial also saw a negative seesion, down -0.29% on the day.

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An evaluation of the daily trading volume of Cara Therapeutics, Inc. (NASDAQ:CARA) indicates that the 3-month average is 519.7 Million. However, this figure has declined over the past 10 days to an average of 469.6 Million.

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Currently, records show that 49.88 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 10.73% of outstanding shares, whereas institutions hold 67.29%. The stats also highlight that short interest as of March 14, 2021, stood at 3.21 Million shares, resulting in a short ratio of 6.57 at that time. From this, we can conclude that short interest is 6.44% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 2.8 Million. However, since the stock’s price has seen +79.44% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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