Zacks Investment Research upgraded shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $24.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “
Several other brokerages have also recently issued reports on CARA. Needham & Company LLC raised their target price on Cara Therapeutics from $28.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. BidaskClub cut YRC Worldwide from a buy rating to a hold rating in a report on Tuesday, April 30th. HC Wainwright boosted their price target on Cara Therapeutics from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Finally, Laidlaw lifted their target price on Cara Therapeutics from $26.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $25.31.
NASDAQ:CARA opened at $23.03 on Tuesday. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.04. Cara Therapeutics has a one year low of $12.19 and a one year high of $24.30. The stock’s 50 day simple moving average is $20.42. The firm has a market cap of $917.43 million, a P/E ratio of -11.18 and a beta of 2.25.
Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.01). The firm had revenue of $4.38 million during the quarter, compared to the consensus estimate of $5.14 million. Cara Therapeutics had a negative net margin of 443.71% and a negative return on equity of 67.30%. On average, equities analysts predict that Cara Therapeutics will post -2.38 earnings per share for the current fiscal year.
In other news, CEO Derek T. Chalmers sold 5,528 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.42, for a total transaction of $118,409.76. Following the sale, the chief executive officer now owns 963,996 shares of the company’s stock, valued at approximately $20,648,794.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mani Mohindru sold 2,496 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.39, for a total value of $53,389.44. Following the sale, the chief financial officer now directly owns 16,359 shares in the company, valued at approximately $349,919.01. The disclosure for this sale can be found here. Insiders sold a total of 41,921 shares of company stock worth $905,677 in the last 90 days. 5.80% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of CARA. Deutsche Bank AG raised its holdings in Cara Therapeutics by 141.9% in the 4th quarter. Deutsche Bank AG now owns 304,177 shares of the biopharmaceutical company’s stock valued at $3,953,000 after acquiring an additional 178,414 shares during the last quarter. First Manhattan Co. raised its holdings in Cara Therapeutics by 17.3% in the 1st quarter. First Manhattan Co. now owns 981,220 shares of the biopharmaceutical company’s stock valued at $19,251,000 after acquiring an additional 144,578 shares during the last quarter. Two Sigma Investments LP acquired a new position in Cara Therapeutics in the 4th quarter valued at $1,578,000. Sphera Funds Management LTD. raised its holdings in Cara Therapeutics by 18.8% in the 4th quarter. Sphera Funds Management LTD. now owns 303,930 shares of the biopharmaceutical company’s stock valued at $3,951,000 after acquiring an additional 48,000 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Cara Therapeutics by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,800,605 shares of the biopharmaceutical company’s stock valued at $36,407,000 after acquiring an additional 42,487 shares during the last quarter. 56.10% of the stock is currently owned by hedge funds and other institutional investors.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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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