Cara Therapeutics (NASDAQ:CARA) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other research firms have also weighed in on CARA. Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Saturday, August 5th. Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Saturday, August 5th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Cara Therapeutics in a research report on Wednesday, October 4th. Zacks Investment Research lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cara Therapeutics in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $25.17.

Cara Therapeutics (CARA) traded up $0.33 on Friday, reaching $12.78. 1,030,832 shares of the company traded hands, compared to its average volume of 734,726. Cara Therapeutics has a one year low of $8.62 and a one year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). During the same quarter in the prior year, the company posted ($0.42) EPS. equities analysts forecast that Cara Therapeutics will post -1.84 EPS for the current year.

In other news, CEO Derek T. Chalmers sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total value of $202,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,066,292 shares in the company, valued at $13,499,256.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of 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 acquiring an additional 678 shares during the period. Fred Alger Management Inc. bought a new position in shares of Cara Therapeutics in the second quarter valued at approximately $123,000. Capital Fund Management S.A. bought a new position in shares of Cara Therapeutics in the second quarter valued at approximately $171,000. State Board of Administration of Florida Retirement System bought a new position in shares of Cara Therapeutics in the third quarter valued at approximately $180,000. Finally, Rathbone Brothers plc bought a new position in shares of Cara Therapeutics in the second quarter valued at approximately $185,000. Institutional investors own 58.80% of the company’s stock.

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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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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