Cara Therapeutics (CARA) Upgraded to “Hold” at ValuEngine

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

Other research analysts have also recently issued research reports about the stock. CIBC cut their price objective on shares of Cara Therapeutics from $26.00 to $24.00 in a report on Tuesday, November 7th. Canaccord Genuity set a $25.00 price objective on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Monday, November 20th. Janney Montgomery Scott upgraded shares of Cara Therapeutics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $27.00 to $21.00 in a research report on Monday. Seaport Global Securities assumed coverage on shares of Cara Therapeutics in a research report on Friday, January 19th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 target price on shares of Cara Therapeutics in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Cara Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.09.

Cara Therapeutics (NASDAQ:CARA) traded up $0.31 on Tuesday, reaching $14.01. 892,642 shares of the company’s stock were exchanged, compared to its average volume of 1,350,000. Cara Therapeutics has a one year low of $11.11 and a one year high of $28.50. The stock has a market capitalization of $456.84, a PE ratio of -6.12 and a beta of 3.01.

In related news, SVP Frederique Ph.D. Menzaghi sold 15,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the transaction, the senior vice president now directly owns 122,000 shares in the company, valued at $1,830,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Derek T. Chalmers sold 12,500 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the transaction, the chief executive officer now owns 1,073,792 shares in the company, valued at $16,106,880. The disclosure for this sale can be found here. 7.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in Cara Therapeutics by 686.2% during the second quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock worth $49,943,000 after acquiring an additional 2,832,304 shares during the last quarter. BlackRock Inc. boosted its position in Cara Therapeutics by 25.6% during the fourth quarter. BlackRock Inc. now owns 2,207,407 shares of the biopharmaceutical company’s stock worth $27,018,000 after acquiring an additional 449,334 shares during the last quarter. FMR LLC boosted its position in Cara Therapeutics by 27.7% during the second quarter. FMR LLC now owns 1,198,812 shares of the biopharmaceutical company’s stock worth $18,450,000 after acquiring an additional 260,036 shares during the last quarter. Vanguard Group Inc. boosted its position in Cara Therapeutics by 17.4% during the second quarter. Vanguard Group Inc. now owns 1,107,874 shares of the biopharmaceutical company’s stock worth $17,050,000 after acquiring an additional 164,247 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted 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 last quarter. Hedge funds and other institutional investors own 58.98% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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