Cara Therapeutics (CARA) Downgraded by Zacks Investment Research to “Sell”

Cara Therapeutics (NASDAQ:CARA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

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. “

Several other research firms also recently commented on CARA. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cara Therapeutics in a report on Wednesday, October 4th. Scotiabank dropped their price objective on shares of Cara Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, September 28th. ValuEngine downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cara Therapeutics in a report on Wednesday. Finally, BidaskClub raised shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.97.

Cara Therapeutics (CARA) traded down $0.23 during mid-day trading on Friday, hitting $12.54. 1,127,459 shares of the stock traded hands, compared to its average volume of 1,456,933. The stock has a market cap of $408.91, a P/E ratio of -5.48 and a beta of 2.96. Cara Therapeutics has a fifty-two week low of $10.09 and a fifty-two week high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). During the same quarter last year, the firm earned ($0.42) EPS. analysts predict that Cara Therapeutics will post -1.84 earnings per share for the current year.

In related news, CEO Derek T. Chalmers sold 16,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total transaction of $202,560.00. Following the sale, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at $13,499,256.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its position in Cara Therapeutics by 16.7% during the third quarter. California Public Employees Retirement System now owns 166,273 shares of the biopharmaceutical company’s stock worth $2,276,000 after acquiring an additional 23,773 shares during the period. Janney Montgomery Scott LLC raised its position in Cara Therapeutics by 25.0% during the third quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock worth $292,000 after acquiring an additional 4,275 shares during the period. JPMorgan Chase & Co. raised its position in Cara Therapeutics by 30.3% during the third quarter. JPMorgan Chase & Co. now owns 359,875 shares of the biopharmaceutical company’s stock worth $4,790,000 after acquiring an additional 83,725 shares during the period. TD Asset Management Inc. raised its position in Cara Therapeutics by 32.4% during the third quarter. TD Asset Management Inc. now owns 19,600 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 4,800 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Cara Therapeutics during the third quarter worth $451,000. Institutional investors own 58.64% 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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