Shares of Cara Therapeutics Inc (NASDAQ:CARA) have been given an average recommendation of “Buy” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.00.
CARA has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating and set a $27.00 price target on shares of Cara Therapeutics in a research note on Thursday, October 4th. Canaccord Genuity lifted their price target on Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. BidaskClub upgraded Cara Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Jefferies Financial Group initiated coverage on Cara Therapeutics in a research note on Thursday, September 13th. They set a “buy” rating and a $30.00 price target for the company. Finally, Zacks Investment Research upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st.
CARA stock traded down $1.03 during mid-day trading on Friday, reaching $16.07. 1,201,673 shares of the company traded hands, compared to its average volume of 931,677. The company has a market capitalization of $697.80 million, a P/E ratio of -8.64 and a beta of 2.90. Cara Therapeutics has a fifty-two week low of $11.46 and a fifty-two week high of $24.30.
Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). The business had revenue of $5.06 million during the quarter, compared to analyst estimates of $4.72 million. Equities research analysts expect that Cara Therapeutics will post -2.09 earnings per share for the current year.
In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.99, for a total transaction of $71,970.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $23.79, for a total transaction of $475,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,526 shares of company stock worth $1,830,672. Insiders own 6.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC bought a new stake in shares of Cara Therapeutics in the 2nd quarter worth approximately $715,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Cara Therapeutics by 9.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,335 shares of the biopharmaceutical company’s stock worth $1,137,000 after purchasing an additional 5,000 shares during the period. State of Wisconsin Investment Board raised its holdings in shares of Cara Therapeutics by 38.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 27,600 shares of the biopharmaceutical company’s stock worth $529,000 after purchasing an additional 7,600 shares during the period. Rathbone Brothers plc bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth approximately $228,000. Finally, Chescapmanager LLC raised its holdings in shares of Cara Therapeutics by 10.6% in the 2nd quarter. Chescapmanager LLC now owns 1,164,431 shares of the biopharmaceutical company’s stock worth $22,299,000 after purchasing an additional 111,498 shares during the period. 60.62% of the stock is currently owned by hedge funds and other institutional investors.
About Cara Therapeutics
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.
Featured Article: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Cara Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.