HC Wainwright set a $22.00 price objective on Cara Therapeutics (NASDAQ:CARA) in a research report released on Monday, March 19th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
CARA has been the topic of a number of other reports. Janney Montgomery Scott raised shares of Cara Therapeutics from a neutral rating to a buy rating and reduced their price objective for the company from $27.00 to $21.00 in a research note on Monday, February 12th. Canaccord Genuity set a $25.00 target price on shares of Cara Therapeutics and gave the stock a buy rating in a report on Monday, November 20th. ValuEngine upgraded shares of Cara Therapeutics from a sell rating to a hold rating in a report on Tuesday, February 13th. Seaport Global Securities assumed coverage on shares of Cara Therapeutics in a report on Friday, January 19th. They set a buy rating and a $27.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a buy rating and issued a $17.00 price target on shares of Cara Therapeutics in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $24.59.
NASDAQ:CARA traded up $0.04 during mid-day trading on Monday, hitting $12.41. The company’s stock had a trading volume of 456,605 shares, compared to its average volume of 1,004,708. Cara Therapeutics has a fifty-two week low of $11.11 and a fifty-two week high of $28.50. The firm has a market capitalization of $400.45, a PE ratio of -6.67 and a beta of 2.96.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Thursday, March 15th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04). During the same period in the prior year, the business earned ($0.81) EPS. equities research analysts expect that Cara Therapeutics will post -1.96 earnings per share for the current fiscal year.
In related news, CEO Derek T. Chalmers sold 5,400 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.00, for a total transaction of $81,000.00. Following the transaction, the chief executive officer now directly owns 1,071,392 shares of the company’s stock, valued at $16,070,880. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Frederique Ph.D. Menzaghi sold 15,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,900 shares of company stock valued at $538,560. 7.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC purchased a new stake in shares of Cara Therapeutics in the fourth quarter valued at about $125,000. MANA Advisors LLC purchased a new stake in Cara Therapeutics during the fourth quarter worth about $125,000. MetLife Investment Advisors LLC purchased a new stake in Cara Therapeutics during the fourth quarter worth about $140,000. Courier Capital LLC purchased a new stake in Cara Therapeutics during the fourth quarter worth about $147,000. Finally, Fox Run Management L.L.C. purchased a new stake in Cara Therapeutics during the fourth quarter worth about $157,000. Hedge funds and other institutional investors own 52.76% of the company’s stock.
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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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