Shares of Cara Therapeutics Inc (NASDAQ:CARA) have received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.00.
Several equities analysts have commented on CARA shares. Cantor Fitzgerald started coverage on Cara Therapeutics in a report on Friday, September 21st. They set an “overweight” rating and a $27.00 price target on the stock. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Jefferies Financial Group started coverage on Cara Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $30.00 price target on the stock. BidaskClub upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Finally, Canaccord Genuity increased their price target on Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th.
Shares of CARA stock opened at $18.44 on Friday. Cara Therapeutics has a 12 month low of $11.46 and a 12 month high of $24.30. The company has a market cap of $735.52 million, a price-to-earnings ratio of -9.91 and a beta of 2.92.
Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.05). The business had revenue of $5.06 million during the quarter, compared to the consensus estimate of $4.72 million. Equities research analysts forecast that Cara Therapeutics will post -2.1 EPS for the current year.
In other news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.81, for a total value of $59,430.00. Following the sale, the senior vice president now owns 98,000 shares in the company, valued at $1,941,380. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.79, for a total transaction of $475,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,526 shares of company stock worth $2,284,302. 6.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in CARA. BlackRock Inc. grew its stake in shares of Cara Therapeutics by 23.1% in the third quarter. BlackRock Inc. now owns 2,758,118 shares of the biopharmaceutical company’s stock worth $66,055,000 after acquiring an additional 516,870 shares during the last quarter. First Manhattan Co. lifted its position in Cara Therapeutics by 205.9% in the second quarter. First Manhattan Co. now owns 557,000 shares of the biopharmaceutical company’s stock worth $10,666,000 after purchasing an additional 374,900 shares during the period. Marshall Wace LLP bought a new position in Cara Therapeutics in the second quarter worth $6,682,000. Vanguard Group Inc. lifted its position in Cara Therapeutics by 24.5% in the third quarter. Vanguard Group Inc. now owns 1,551,344 shares of the biopharmaceutical company’s stock worth $37,155,000 after purchasing an additional 305,020 shares during the period. Finally, Nexthera Capital LP lifted its position in Cara Therapeutics by 69.2% in the third quarter. Nexthera Capital LP now owns 737,303 shares of the biopharmaceutical company’s stock worth $17,658,000 after purchasing an additional 301,503 shares during the period. Institutional investors and hedge funds own 51.38% of the company’s stock.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.
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