Zacks Investment Research downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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. “

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group initiated coverage on Cara Therapeutics in a research note on Thursday, September 13th. They set a buy rating and a $30.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Cara Therapeutics in a research note on Friday, September 21st. They set an overweight rating and a $27.00 price objective on the stock. BidaskClub cut Cara Therapeutics from a sell rating to a strong sell rating in a research note on Thursday, December 13th. Janney Montgomery Scott initiated coverage on Cara Therapeutics in a research note on Thursday, December 20th. They set a buy rating and a $13.36 price objective on the stock. Finally, Piper Jaffray Companies set a $27.00 price objective on Cara Therapeutics and gave the company a buy rating in a research note on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $26.34.

CARA traded up $0.06 during trading on Tuesday, reaching $15.83. The stock had a trading volume of 443,887 shares, compared to its average volume of 840,562. The stock has a market cap of $615.68 million, a PE ratio of -8.51 and a beta of 2.95. Cara Therapeutics has a one year low of $11.46 and a one year high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). The firm had revenue of $5.06 million during the quarter, compared to analysts’ expectations of $4.72 million. As a group, equities research analysts predict that Cara Therapeutics will post -2.13 EPS for the current year.

In other news, CFO Mani Mohindru sold 16,042 shares of the stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $20.19, for a total transaction of $323,887.98. Following the completion of the sale, the chief financial officer now directly owns 16,042 shares in the company, valued at $323,887.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Derek T. Chalmers sold 20,000 shares of the stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $13.61, for a total transaction of $272,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,976 shares of company stock valued at $2,249,947. 6.70% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Cara Therapeutics by 23.1% during the third quarter. BlackRock Inc. now owns 2,758,118 shares of the biopharmaceutical company’s stock worth $66,055,000 after purchasing an additional 516,870 shares during the period. Vanguard Group Inc boosted its holdings in shares of Cara Therapeutics by 24.5% during the third quarter. Vanguard Group Inc now owns 1,551,344 shares of the biopharmaceutical company’s stock worth $37,155,000 after purchasing an additional 305,020 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cara Therapeutics by 24.5% during the third quarter. Vanguard Group Inc. now owns 1,551,344 shares of the biopharmaceutical company’s stock worth $37,155,000 after purchasing an additional 305,020 shares during the period. Nexthera Capital LP boosted its holdings in shares of Cara Therapeutics by 69.2% during the third quarter. Nexthera Capital LP now owns 737,303 shares of the biopharmaceutical company’s stock worth $17,658,000 after purchasing an additional 301,503 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Cara Therapeutics by 29.1% during the third quarter. Marshall Wace LLP now owns 450,324 shares of the biopharmaceutical company’s stock worth $10,785,000 after purchasing an additional 101,398 shares during the period. Institutional investors own 60.62% 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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