Zacks Investment Research downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a sell rating in a report published on Friday.

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 equities research analysts have also commented on the stock. Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the company a buy rating in a report on Monday, November 20th. Scotiabank upped their price target on shares of Cara Therapeutics from $31.00 to $31.50 and gave the company an outperform rating in a report on Tuesday, October 17th. BMO Capital Markets reiterated a market perform rating and set a $25.00 price target on shares of Cara Therapeutics in a report on Tuesday, November 7th. ValuEngine lowered shares of Cara Therapeutics from a hold rating to a sell rating in a report on Friday, December 1st. Finally, CIBC decreased their price objective on shares of Cara Therapeutics from $26.00 to $24.00 in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $24.97.

Cara Therapeutics (NASDAQ CARA) traded down $0.05 during trading hours on Friday, reaching $12.38. 452,300 shares of the company were exchanged, compared to its average volume of 1,314,300. Cara Therapeutics has a 52 week low of $10.25 and a 52 week high of $28.50. The company has a market cap of $405.98, a price-to-earnings ratio of -5.41 and a beta of 2.96.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). During the same quarter in the prior year, the company posted ($0.42) EPS. analysts expect that Cara Therapeutics will post -1.84 EPS for the current fiscal year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 16,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total value of $202,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,066,292 shares in the company, valued at approximately $13,499,256.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Cara Therapeutics by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 678 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Cara Therapeutics by 15.4% in the 2nd quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 1,646 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Cara Therapeutics by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,280 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 3,353 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Cara Therapeutics by 25.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock worth $292,000 after acquiring an additional 4,275 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cara Therapeutics by 16.7% in the 2nd quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 4,375 shares in the last quarter. Institutional investors and hedge funds own 58.64% of the company’s stock.

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About Cara Therapeutics

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.

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