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.

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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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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