Seaport Global Securities initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note published on Friday, January 19th, Marketbeat.com reports. The firm issued a buy rating and a $27.00 price objective on the biopharmaceutical company’s stock.
Several other research analysts have also weighed in on CARA. ValuEngine lowered shares of Cara Therapeutics from a hold rating to a sell rating in a report on Wednesday, September 27th. Scotiabank cut their price objective on shares of Cara Therapeutics from $32.00 to $31.00 and set an outperform rating on the stock in a report on Thursday, September 28th. Needham & Company LLC reiterated a buy rating and set a $23.00 price objective on shares of Cara Therapeutics in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Cara Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 4th. Finally, BMO Capital Markets restated a market perform rating and issued a $25.00 price target on shares of Cara Therapeutics in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $25.09.
Shares of Cara Therapeutics (NASDAQ CARA) traded up $0.47 during mid-day trading on Friday, hitting $14.48. 791,486 shares of the stock traded hands, compared to its average volume of 1,350,000. The stock has a market cap of $472.17, a price-to-earnings ratio of -6.32 and a beta of 3.01. Cara Therapeutics has a 1-year low of $11.11 and a 1-year high of $28.50.
In other news, SVP Frederique Ph.D. Menzaghi sold 15,000 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the sale, the senior vice president now owns 122,000 shares in the company, valued at $1,830,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Derek T. Chalmers sold 12,500 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $15.00, for a total transaction of $187,500.00. Following the sale, the chief executive officer now owns 1,073,792 shares in the company, valued at approximately $16,106,880. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Cara Therapeutics by 10.4% during the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 678 shares during the period. Fred Alger Management Inc. purchased a new stake in shares of Cara Therapeutics during the second quarter valued at approximately $123,000. MANA Advisors LLC purchased a new stake in shares of Cara Therapeutics during the fourth quarter valued at approximately $125,000. Cetera Advisor Networks LLC acquired a new stake in shares of Cara Therapeutics during the fourth quarter worth approximately $125,000. Finally, Courier Capital LLC acquired a new stake in shares of Cara Therapeutics during the fourth quarter worth approximately $147,000. Institutional investors own 58.98% of the company’s stock.
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Cara Therapeutics Company Profile
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. It is developing a class of product candidates that target the body’s peripheral nervous system.
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