Cara Therapeutics Inc (NASDAQ:CARA) has been given a consensus recommendation of “Buy” by the eleven research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.93.

Several analysts have recently issued reports on CARA shares. HC Wainwright reissued a “buy” rating and set a $30.00 price objective (down from $31.00) on shares of Cara Therapeutics in a research note on Monday. Laidlaw boosted their price objective on shares of Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. BidaskClub lowered shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 30th. Needham & Company LLC lifted their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Piper Jaffray Companies lifted their target price on shares of Cara Therapeutics from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

In other Cara Therapeutics news, CFO Mani Mohindru sold 2,496 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $21.39, for a total value of $53,389.44. Following the transaction, the chief financial officer now owns 16,359 shares in the company, valued at approximately $349,919.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederique Ph.D. Menzaghi sold 8,996 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $27.50, for a total transaction of $247,390.00. Following the completion of the transaction, the insider now owns 119,886 shares in the company, valued at approximately $3,296,865. The disclosure for this sale can be found here. Insiders have sold a total of 120,848 shares of company stock worth $2,844,442 in the last 90 days. Company insiders own 5.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. TCG Advisors LP acquired a new position in Cara Therapeutics in the 1st quarter worth $30,000. Aperio Group LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $88,000. BNP Paribas Arbitrage SA lifted its holdings in Cara Therapeutics by 67,680.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,778 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 6,768 shares in the last quarter. Knott David M acquired a new position in Cara Therapeutics in the 1st quarter worth $140,000. Finally, Sfmg LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 57.84% of the company’s stock.

Shares of NASDAQ CARA traded down $0.36 during trading on Wednesday, hitting $23.04. 354,717 shares of the company traded hands, compared to its average volume of 762,380. Cara Therapeutics has a 1 year low of $12.19 and a 1 year high of $27.55. The stock has a 50-day moving average of $23.26. The company has a market cap of $930.20 million, a price-to-earnings ratio of -11.18 and a beta of 2.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 3.11.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.03. Cara Therapeutics had a negative net margin of 420.97% and a negative return on equity of 68.36%. The company had revenue of $5.21 million during the quarter, compared to analysts’ expectations of $5.14 million. On average, research analysts predict that Cara Therapeutics will post -2.39 EPS for the current fiscal year.

Cara Therapeutics Company Profile

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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