Stock analysts at Seaport Global Securities began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $27.00 price target on the biopharmaceutical company’s stock. Seaport Global Securities’ price objective indicates a potential upside of 107.69% from the company’s previous close.
Other analysts also recently issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 target price on shares of Cara Therapeutics in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. BMO Capital Markets restated a “market perform” rating and issued a $25.00 price target on shares of Cara Therapeutics in a research note on Tuesday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Cara Therapeutics in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Cara Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.09.
Shares of Cara Therapeutics (CARA) traded up $0.56 on Friday, reaching $13.00. The company’s stock had a trading volume of 1,105,022 shares, compared to its average volume of 931,163. Cara Therapeutics has a 1-year low of $11.11 and a 1-year high of $28.50. The stock has a market cap of $442.99, a P/E ratio of -5.68 and a beta of 2.96.
In related news, CEO Derek T. Chalmers sold 16,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total value of $202,560.00. Following the transaction, 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 is available through the SEC website. 7.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in CARA. Rhumbline Advisers raised its holdings in Cara Therapeutics by 16.7% in the 2nd quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 4,375 shares during the period. Bank of New York Mellon Corp raised its holdings in Cara Therapeutics by 26.1% during the second quarter. Bank of New York Mellon Corp now owns 177,766 shares of the biopharmaceutical company’s stock valued at $2,735,000 after acquiring an additional 36,769 shares during the period. Legal & General Group Plc raised its holdings in Cara Therapeutics by 10.4% during 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. Swiss National Bank bought a new stake in Cara Therapeutics during the second quarter valued at about $651,000. Finally, Alliancebernstein L.P. raised its holdings in Cara Therapeutics by 90.1% during the second quarter. Alliancebernstein L.P. now owns 38,600 shares of the biopharmaceutical company’s stock valued at $594,000 after acquiring an additional 18,300 shares during the period. 58.64% of the stock is currently owned by institutional investors.
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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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