5 Best CBD Stocks to Invest In

4. Cara Therapeutics, Inc. (NASDAQ: CARA)

Number of Hedge Fund Holders: 17

Cara Therapeutics, Inc. (NASDAQ: CARA) ranks 4th on the list of 10 best CBD stocks to invest in. The biotech company based in Connecticut created an orally induced cannabinoid-based medicine to treat inflammatory and neuropathic pain.

On April 29, Needham analysts maintained a Buy rating on Cara Therapeutics, Inc. (NASDAQ: CARA) with a price target of $26 per share. The company has a market cap of $604 million. In the first quarter of 2021, Cara Therapeutics, Inc. (NASDAQ: CARA) had an EPS of -$0.47, beating estimates by $0.12. The company’s first-quarter revenue came in at $1.94 million. 

At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $153 million in Cara Therapeutics, Inc. (NASDAQ: CARA), up from 15 in the preceding quarter worth $97.6 million.