Cara Therapeutics (CARA) Lowered to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “

Several other equities analysts have also commented on CARA. BidaskClub lowered shares of Cara Therapeutics from a hold rating to a sell rating in a report on Tuesday, July 31st. HC Wainwright set a $26.00 price target on shares of Cara Therapeutics and gave the company a buy rating in a research note on Wednesday, August 8th. Stifel Nicolaus raised their price target on shares of Cara Therapeutics from $22.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, August 8th. Canaccord Genuity raised their price target on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, August 15th. Finally, Jefferies Financial Group began coverage on shares of Cara Therapeutics in a research note on Thursday, September 13th. They issued a buy rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Cara Therapeutics has a consensus rating of Buy and a consensus price target of $26.11.

CARA stock traded down $0.76 during mid-day trading on Friday, hitting $19.67. The stock had a trading volume of 445,287 shares, compared to its average volume of 565,634. Cara Therapeutics has a 52 week low of $11.46 and a 52 week high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last released its 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 for the quarter, compared to analysts’ expectations of $4.72 million. Equities research analysts forecast that Cara Therapeutics will post -2.08 earnings per share for the current fiscal year.

In related news, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.71, for a total transaction of $394,200.00. Following the sale, the chief executive officer now directly owns 1,031,392 shares in the company, valued at approximately $20,328,736.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mani Mohindru sold 16,042 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $20.19, for a total transaction of $323,887.98. Following the sale, the chief financial officer now owns 16,042 shares in the company, valued at $323,887.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,484 shares of company stock worth $2,044,195. 6.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of CARA. Exane Derivatives acquired a new stake in Cara Therapeutics during the 2nd quarter worth approximately $138,000. Creative Planning acquired a new stake in Cara Therapeutics during the 3rd quarter worth approximately $207,000. BB&T Securities LLC acquired a new stake in Cara Therapeutics during the 2nd quarter worth approximately $218,000. Rathbone Brothers plc acquired a new stake in Cara Therapeutics during the 3rd quarter worth approximately $228,000. Finally, Raymond James & Associates acquired a new stake in Cara Therapeutics during the 2nd quarter worth approximately $250,000. Institutional investors and hedge funds own 48.88% 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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