BidaskClub downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a sell rating to a strong sell rating in a report published on Thursday morning.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group started 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. Canaccord Genuity boosted 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. Cantor Fitzgerald started coverage on shares of Cara Therapeutics in a research note on Friday, September 21st. They issued an overweight rating and a $27.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $26.11.

Cara Therapeutics stock opened at $14.05 on Thursday. Cara Therapeutics has a 1 year low of $11.46 and a 1 year high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). The firm had revenue of $5.06 million for the quarter, compared to analyst estimates of $4.72 million. On average, equities research analysts expect that Cara Therapeutics will post -2.11 EPS for the current year.

In related news, CFO Mani Mohindru sold 16,042 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $20.19, for a total transaction of $323,887.98. Following the sale, the chief financial officer now directly owns 16,042 shares of the company’s stock, valued at approximately $323,887.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph William Stauffer sold 11,442 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $20.13, for a total transaction of $230,327.46. Following the sale, the insider now directly owns 2,970 shares in the company, valued at $59,786.10. The disclosure for this sale can be found here. Insiders sold a total of 89,526 shares of company stock worth $1,830,672 over the last three months. Insiders own 6.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc increased its stake in 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 buying an additional 305,020 shares during the period. Federated Investors Inc. PA increased its stake in Cara Therapeutics by 52,380.9% during the 3rd quarter. Federated Investors Inc. PA now owns 93,416 shares of the biopharmaceutical company’s stock worth $2,237,000 after buying an additional 93,238 shares during the period. Marshall Wace LLP increased its stake in Cara Therapeutics by 29.1% during the 3rd quarter. Marshall Wace LLP now owns 450,324 shares of the biopharmaceutical company’s stock worth $10,785,000 after buying an additional 101,398 shares during the period. Vanguard Group Inc. increased its stake in 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 buying an additional 305,020 shares during the period. Finally, Morgan Stanley increased its stake in Cara Therapeutics by 6.3% during the 3rd quarter. Morgan Stanley now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,948,000 after buying an additional 4,840 shares during the period. 60.62% of the stock is currently owned by hedge funds and other institutional investors.

About Cara Therapeutics

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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