Cara Therapeutics (NASDAQ:CARA) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05), Fidelity Earnings reports. The company had revenue of $5.06 million during the quarter, compared to analysts’ expectations of $4.72 million.
Shares of NASDAQ:CARA traded down $0.01 on Wednesday, hitting $19.71. The company had a trading volume of 1,207,055 shares, compared to its average volume of 975,716. Cara Therapeutics has a 52-week low of $11.46 and a 52-week high of $24.30. The company has a market capitalization of $773.63 million, a P/E ratio of -10.60 and a beta of 2.92.
A number of research analysts recently weighed in on the company. BidaskClub lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Cantor Fitzgerald set a $27.00 price objective on Cara Therapeutics and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Cara Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. HC Wainwright set a $26.00 price objective on Cara Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $25.83.
In other news, CEO Derek T. Chalmers sold 20,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.79, for a total value of $475,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the company’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 completion of the sale, the senior vice president now owns 98,000 shares in the company, valued at $1,941,380. The disclosure for this sale can be found here. Insiders sold 99,484 shares of company stock worth $2,044,195 over the last 90 days. Company insiders own 6.70% of the company’s stock.
About Cara Therapeutics
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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