Cara Therapeutics Inc (NASDAQ:CARA) has received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given 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 brokers that have covered the stock in the last year is $25.96.
Several research analysts recently commented on CARA shares. Canaccord Genuity set a $25.00 target price on Cara Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research raised Cara Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, August 30th. Scotiabank upped their price objective on Cara Therapeutics from $31.00 to $31.50 and gave the stock an “outperform” rating in a research report on Tuesday, October 17th. BMO Capital Markets reaffirmed a “market perform” rating and set a $25.00 price objective on shares of Cara Therapeutics in a research report on Tuesday, November 7th. Finally, CIBC lowered their price objective on Cara Therapeutics from $26.00 to $24.00 in a research report on Tuesday, November 7th.
Cara Therapeutics (NASDAQ CARA) opened at $12.62 on Friday. Cara Therapeutics has a one year low of $8.70 and a one year high of $28.50.
In related news, CEO Derek T. Chalmers sold 16,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total value of $202,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at approximately $13,499,256.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Cara Therapeutics by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 678 shares during the period. Fred Alger Management Inc. acquired a new stake in shares of Cara Therapeutics in the 2nd quarter valued at about $123,000. Capital Fund Management S.A. acquired a new stake in shares of Cara Therapeutics in the 2nd quarter valued at about $171,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cara Therapeutics in the 3rd quarter valued at about $180,000. Finally, Rathbone Brothers plc acquired a new stake in shares of Cara Therapeutics in the 2nd quarter valued at about $185,000. 58.80% of the stock is owned by hedge funds and other institutional investors.
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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