Cara Therapeutics, Inc. (NASDAQ:CARA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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 reports. ValuEngine lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Cara Therapeutics in a research note on Friday, June 30th. Laidlaw reduced their price objective on Cara Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Janney Montgomery Scott lowered Cara Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $21.00 in a research report on Friday, June 30th. Finally, Scotiabank decreased their target price on Cara Therapeutics from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Cara Therapeutics presently has an average rating of “Buy” and a consensus target price of $25.43.

Cara Therapeutics (CARA) traded down 0.86% during mid-day trading on Wednesday, hitting $13.80. 470,325 shares of the stock were exchanged. The stock’s 50-day moving average is $13.46 and its 200 day moving average is $15.87. Cara Therapeutics has a 52 week low of $5.85 and a 52 week high of $28.50. The company’s market capitalization is $449.62 million.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.32. Cara Therapeutics’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.48) earnings per share. On average, analysts anticipate that Cara Therapeutics will post ($1.78) EPS for the current year.

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In related 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 value of $45,000.00. Following the completion of the transaction, the vice president now directly owns 120,000 shares in the company, valued at approximately $1,800,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Derek T. Chalmers sold 25,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.05, for a total transaction of $376,250.00. Following the sale, the chief executive officer now directly owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The disclosure for this sale can be found here. 7.50% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CARA. State Street Corp lifted its position in shares of Cara Therapeutics by 686.2% during the second quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock worth $49,943,000 after acquiring an additional 2,832,304 shares in the last quarter. FMR LLC boosted its holdings 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 acquiring an additional 847,777 shares during the period. Balyasny Asset Management LLC grew its position in shares of Cara Therapeutics by 376.3% in the second quarter. Balyasny Asset Management LLC now owns 525,000 shares of the biopharmaceutical company’s stock valued at $8,080,000 after purchasing an additional 715,000 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Cara Therapeutics in the first quarter valued at $5,251,000. Finally, Morgan Stanley grew its position in shares of Cara Therapeutics by 360.3% in the first quarter. Morgan Stanley now owns 332,606 shares of the biopharmaceutical company’s stock valued at $6,117,000 after purchasing an additional 260,344 shares in the last quarter. Hedge funds and other institutional investors own 61.13% of the company’s stock.

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.

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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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