Cara Therapeutics Inc (NASDAQ:CARA) insider Joseph William Stauffer sold 11,442 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $20.13, for a total transaction of $230,327.46. Following the transaction, the insider now directly owns 2,970 shares of the company’s stock, valued at $59,786.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ CARA opened at $19.67 on Friday. Cara Therapeutics Inc has a 12-month low of $11.11 and a 12-month high of $24.30.
Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The company had revenue of $2.87 million for the quarter, compared to the consensus estimate of $0.63 million. On average, analysts forecast that Cara Therapeutics Inc will post -2.01 earnings per share for the current fiscal year.
Several research firms have recently weighed in on CARA. Cantor Fitzgerald reissued a “buy” rating and set a $27.00 price objective on shares of Cara Therapeutics in a report on Thursday, October 4th. BidaskClub cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group began coverage on shares of Cara Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $30.00 price objective for the company. Canaccord Genuity boosted their price objective on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Cara Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.83.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its position in Cara Therapeutics by 9.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 59,335 shares of the biopharmaceutical company’s stock valued at $1,137,000 after buying an additional 5,000 shares during the period. Commonwealth Equity Services LLC grew its position in Cara Therapeutics by 34.0% during the first quarter. Commonwealth Equity Services LLC now owns 23,206 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 5,889 shares during the period. Cornerstone Wealth Management LLC grew its position in Cara Therapeutics by 44.0% during the third quarter. Cornerstone Wealth Management LLC now owns 20,392 shares of the biopharmaceutical company’s stock valued at $1,515,000 after buying an additional 6,228 shares during the period. Exane Derivatives bought a new stake in Cara Therapeutics during the second quarter valued at approximately $138,000. Finally, State of Wisconsin Investment Board grew its position in Cara Therapeutics by 38.0% during the second quarter. State of Wisconsin Investment Board now owns 27,600 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 7,600 shares during the period. Institutional investors own 48.66% of the company’s stock.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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.
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