Cara Therapeutics (CARA) Earns Buy Rating from Analysts at Jefferies Financial Group

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Jefferies Financial Group assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report issued on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $22.00 price target on the biopharmaceutical company’s stock. Jefferies Financial Group also issued estimates for Cara Therapeutics’ Q4 2018 earnings at ($0.52) EPS, FY2018 earnings at ($2.11) EPS, FY2019 earnings at ($1.92) EPS, FY2020 earnings at ($2.09) EPS, FY2021 earnings at ($1.94) EPS, FY2022 earnings at ($0.38) EPS and FY2023 earnings at $0.84 EPS.

Several other research analysts have also commented on the company. Zacks Investment Research upgraded Cara Therapeutics from a sell rating to a hold rating in a research report on Tuesday, January 29th. Bank of America started coverage on Cara Therapeutics in a research report on Tuesday, January 15th. They issued a neutral rating and a $19.00 price target for the company. HC Wainwright set a $30.00 target price on Cara Therapeutics and gave the company a buy rating in a research report on Thursday, December 20th. Laidlaw set a $30.00 target price on Cara Therapeutics and gave the company a buy rating in a research report on Thursday, December 20th. Finally, Canaccord Genuity set a $25.00 target price on Cara Therapeutics and gave the company a buy rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $24.03.

CARA opened at $16.80 on Wednesday. Cara Therapeutics has a 12 month low of $11.46 and a 12 month high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.05). The company had revenue of $5.06 million during the quarter, compared to the consensus estimate of $4.72 million. As a group, equities analysts predict that Cara Therapeutics will post -2.14 EPS for the current fiscal year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 15,825 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $12.53, for a total transaction of $198,287.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Terrillion sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $12.51, for a total value of $38,781.00. The disclosure for this sale can be found here. Insiders have sold 111,492 shares of company stock valued at $1,563,622 in the last 90 days. Company insiders own 6.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. ETF Managers Group LLC acquired a new position in shares of Cara Therapeutics during the fourth quarter worth $7,624,000. BlackRock Inc. boosted its stake in shares of Cara Therapeutics by 23.1% during the 3rd 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 in the last quarter. Vanguard Group Inc boosted its stake in shares of Cara Therapeutics by 24.5% during the 3rd quarter. Vanguard Group Inc now owns 1,551,344 shares of the biopharmaceutical company’s stock worth $37,155,000 after acquiring an additional 305,020 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cara Therapeutics by 24.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,551,344 shares of the biopharmaceutical company’s stock worth $37,155,000 after acquiring an additional 305,020 shares in the last quarter. Finally, Nexthera Capital LP boosted its stake in shares of Cara Therapeutics by 69.2% during the 3rd quarter. Nexthera Capital LP now owns 737,303 shares of the biopharmaceutical company’s stock worth $17,658,000 after acquiring an additional 301,503 shares in the last quarter. 61.34% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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