Cara Therapeutics Inc (CARA) Receives “Overweight” Rating from Cantor Fitzgerald
Cara Therapeutics Inc (NASDAQ:CARA)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued to investors on Friday. They currently have a $29.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 72.31% from the stock’s current price.
CARA has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Cara Therapeutics in a report on Monday, April 24th. Janney Montgomery Scott set a $20.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a report on Saturday, March 11th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a $30.00 target price on shares of Cara Therapeutics in a report on Friday, April 28th. Vetr raised shares of Cara Therapeutics from a “strong sell” rating to a “sell” rating and set a $17.31 target price on the stock in a report on Thursday, March 30th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 target price on shares of Cara Therapeutics in a report on Friday, March 3rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Cara Therapeutics presently has a consensus rating of “Buy” and an average target price of $26.17.
Cara Therapeutics (NASDAQ:CARA) opened at 16.83 on Friday. The company’s market capitalization is $547.09 million. The company has a 50-day moving average of $16.69 and a 200-day moving average of $13.63. Cara Therapeutics has a 52 week low of $4.35 and a 52 week high of $20.90.
Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.73) by $0.08. The company had revenue of $0.91 million for the quarter, compared to analyst estimates of $0.11 million. The company’s revenue for the quarter was up 12900.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.39) earnings per share. On average, equities research analysts anticipate that Cara Therapeutics will post ($2.35) EPS for the current year.
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In related news, major shareholder Ventures Vi Lp Rho purchased 500,000 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were purchased at an average price of $18.19 per share, with a total value of $9,095,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 7.70% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN acquired a new stake in shares of Cara Therapeutics during the fourth quarter worth about $8,251,000. FMR LLC boosted its stake in shares of Cara Therapeutics by 931.6% in the first quarter. FMR LLC now owns 938,776 shares of the biopharmaceutical company’s stock worth $17,264,000 after buying an additional 847,777 shares during the period. Chescapmanager LLC acquired a new stake in shares of Cara Therapeutics during the fourth quarter worth about $6,365,000. RHO Capital Partners Inc. boosted its stake in shares of Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock worth $65,617,000 after buying an additional 500,000 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Cara Therapeutics during the first quarter worth about $5,517,000. 43.29% of the stock is currently owned by hedge funds and other institutional investors.
About Cara Therapeutics
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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