Cara Therapeutics, Inc. (CARA) Announces Quarterly Earnings Results
Cara Therapeutics, Inc. (NASDAQ:CARA) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03), Briefing.com reports. During the same period last year, the firm posted ($0.42) EPS.
Cara Therapeutics (NASDAQ:CARA) traded down $0.67 during trading hours on Friday, reaching $11.51. 438,755 shares of the company were exchanged, compared to its average volume of 835,692.
CARA has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Cara Therapeutics from $31.00 to $31.50 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Cara Therapeutics in a report on Wednesday, October 4th. ValuEngine downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Cara Therapeutics presently has an average rating of “Buy” and a consensus price target of $25.46.
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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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