Cara Therapeutics (NASDAQ:CARA) Trading 6.4% Higher

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Cara Therapeutics Inc (NASDAQ:CARA) shares traded up 6.4% during mid-day trading on Monday . The company traded as high as $24.37 and last traded at $25.84, 129,358 shares traded hands during trading. A decline of 77% from the average session volume of 572,607 shares. The stock had previously closed at $24.28.

A number of analysts have recently issued reports on the company. Laidlaw lifted their price target on Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. HC Wainwright lifted their price target on Cara Therapeutics from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Needham & Company LLC lifted their price target on Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.31.

The stock has a 50-day moving average of $20.92. The stock has a market cap of $965.17 million, a P/E ratio of -12.34 and a beta of 2.25. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.04.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.01). The firm had revenue of $4.38 million during the quarter, compared to the consensus estimate of $5.14 million. Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%. As a group, research analysts anticipate that Cara Therapeutics Inc will post -2.38 earnings per share for the current fiscal year.

In related news, Director Jeffrey L. Ives sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.75, for a total value of $54,375.00. Following the completion of the sale, the director now owns 8,500 shares in the company, valued at approximately $184,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederique Ph.D. Menzaghi sold 11,397 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.19, for a total value of $241,502.43. Following the completion of the transaction, the insider now directly owns 160,279 shares in the company, valued at $3,396,312.01. The disclosure for this sale can be found here. Insiders sold a total of 41,921 shares of company stock valued at $905,677 in the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CARA. Rhumbline Advisers boosted its stake in Cara Therapeutics by 56.9% during the 4th quarter. Rhumbline Advisers now owns 44,072 shares of the biopharmaceutical company’s stock valued at $573,000 after purchasing an additional 15,984 shares during the period. California Public Employees Retirement System boosted its stake in Cara Therapeutics by 1.4% during the 4th quarter. California Public Employees Retirement System now owns 86,798 shares of the biopharmaceutical company’s stock valued at $1,128,000 after purchasing an additional 1,198 shares during the period. New York State Common Retirement Fund boosted its stake in Cara Therapeutics by 2.0% during the 4th quarter. New York State Common Retirement Fund now owns 30,700 shares of the biopharmaceutical company’s stock valued at $399,000 after purchasing an additional 600 shares during the period. BlackRock Inc. boosted its stake in Cara Therapeutics by 1.5% during the 4th quarter. BlackRock Inc. now owns 2,800,605 shares of the biopharmaceutical company’s stock valued at $36,407,000 after purchasing an additional 42,487 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Cara Therapeutics by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 145,658 shares of the biopharmaceutical company’s stock valued at $1,894,000 after purchasing an additional 3,414 shares during the period. 56.10% of the stock is currently owned by institutional investors and hedge funds.

About Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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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