Cara Therapeutics, Inc. (NASDAQ:CARA) Given Consensus Rating of “Buy” by Brokerages
Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have earned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $26.38.
Several equities research analysts have recently commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price target (down previously from $24.00) on shares of Cara Therapeutics in a report on Friday, June 23rd. Vetr upgraded shares of Cara Therapeutics from a “buy” rating to a “strong-buy” rating and set a $22.99 price target for the company in a report on Tuesday, July 4th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Cara Therapeutics in a report on Monday, April 24th. Raymond James Financial, Inc. reduced their price target on shares of Cara Therapeutics from $28.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Saturday, August 5th.
COPYRIGHT VIOLATION WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/08/12/cara-therapeutics-inc-nasdaqcara-given-consensus-rating-of-buy-by-brokerages.html.
In other news, CEO Derek T. Chalmers sold 25,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.05, for a total value of $376,250.00. Following the sale, the chief executive officer now directly owns 1,107,292 shares of the company’s stock, valued at approximately $16,664,744.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dean Slagel sold 250,000 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $25.87, for a total transaction of $6,467,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 278,000 shares of company stock worth $6,888,750 in the last 90 days. 7.70% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CARA. Legal & General Group Plc increased its stake in Cara Therapeutics by 10.4% in the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 678 shares during the period. Quantbot Technologies LP acquired a new stake in Cara Therapeutics during the first quarter valued at approximately $124,000. Capital Fund Management S.A. acquired a new stake in Cara Therapeutics during the second quarter valued at approximately $171,000. Rathbone Brothers plc acquired a new stake in Cara Therapeutics during the second quarter valued at approximately $185,000. Finally, UBS Group AG increased its stake in Cara Therapeutics by 16.9% in the first quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 1,528 shares during the period. 52.75% of the stock is currently owned by institutional investors and hedge funds.
Cara Therapeutics (NASDAQ:CARA) opened at 13.96 on Friday. Cara Therapeutics has a 1-year low of $5.27 and a 1-year high of $28.50. The company’s market capitalization is $454.83 million. The company has a 50-day moving average of $16.04 and a 200-day moving average of $16.39.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.32. During the same quarter in the prior year, the business posted ($0.48) earnings per share. The business’s revenue was down 100.0% on a year-over-year basis. Equities analysts expect that Cara Therapeutics will post ($1.78) EPS for the current fiscal year.
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.
Receive News & Ratings for Cara Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.