Cara Therapeutics, Inc. (CARA) Raised to Buy at Zacks Investment Research
Cara Therapeutics, Inc. (NASDAQ:CARA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $14.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.11% from the stock’s current price.
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. “
CARA has been the topic of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target (down previously from $24.00) on shares of Cara Therapeutics in a report on Friday, June 23rd. Vetr raised Cara Therapeutics from a “buy” rating to a “strong-buy” rating and set a $22.99 price target on the stock in a report on Tuesday, July 4th. Raymond James Financial, Inc. lowered their price target on Cara Therapeutics from $28.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 3rd. Piper Jaffray Companies set a $27.00 price target on Cara Therapeutics and gave the stock a “buy” rating in a report on Saturday, August 5th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Cara Therapeutics in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.50.
Cara Therapeutics (NASDAQ CARA) traded up 2.06% on Wednesday, reaching $12.86. The company’s stock had a trading volume of 1,229,355 shares. The company’s market capitalization is $418.99 million. The firm’s 50 day moving average price is $14.06 and its 200-day moving average price is $16.29. Cara Therapeutics has a 1-year low of $5.27 and a 1-year high of $28.50.
Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.32. During the same period in the previous year, the business posted ($0.48) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Equities analysts forecast that Cara Therapeutics will post ($1.78) earnings per share for the current year.
In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the sale, the vice president now directly owns 120,000 shares in the company, valued at approximately $1,800,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dean Slagel sold 250,000 shares of Cara Therapeutics stock in a transaction that occurred 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 sold a total of 278,000 shares of company stock worth $6,888,750 in the last ninety days. 7.50% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. 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 worth $118,000 after buying an additional 678 shares during the last quarter. Fred Alger Management Inc. bought a new stake in Cara Therapeutics during the second quarter worth about $123,000. Quantbot Technologies LP bought a new stake in Cara Therapeutics during the first quarter worth about $124,000. Capital Fund Management S.A. bought a new stake in Cara Therapeutics during the second quarter worth about $171,000. Finally, Rathbone Brothers plc bought a new stake in Cara Therapeutics during the second quarter worth about $185,000. Institutional investors own 61.13% of the company’s stock.
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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