Cara Therapeutics Inc (CARA) Receives Average Rating of “Buy” from Analysts

Cara Therapeutics Inc (NASDAQ:CARA) has been given an average rating of “Buy” by the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.83.

A number of equities research analysts have issued reports on CARA shares. Canaccord Genuity set a $25.00 target price on Cara Therapeutics and gave the stock a “buy” rating in a research report on Monday, November 20th. Scotiabank upped their target price 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 target price on shares of Cara Therapeutics in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 target price on shares of Cara Therapeutics in a research report on Wednesday, January 3rd. Finally, ValuEngine cut Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.

Shares of Cara Therapeutics (NASDAQ CARA) opened at $13.39 on Friday. Cara Therapeutics has a 12-month low of $11.11 and a 12-month high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). During the same period in the previous year, the company earned ($0.42) earnings per share. equities research analysts predict that Cara Therapeutics will post -1.85 EPS for the current year.

In other news, CEO Derek T. Chalmers sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,073,792 shares in the company, valued at $16,106,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Frederique Ph.D. Menzaghi sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the senior vice president now owns 122,000 shares of the company’s stock, valued at $1,830,000. The disclosure for this sale can be found here. 7.70% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Cara Therapeutics by 10.4% during the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 678 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Cara Therapeutics by 15.4% in the second quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 1,646 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Cara Therapeutics by 18.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,280 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 3,353 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Cara Therapeutics by 25.0% in the third quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 4,275 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Cara Therapeutics by 32.4% in the third quarter. TD Asset Management Inc. now owns 19,600 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 4,800 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

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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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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