Cara Therapeutics Inc (NASDAQ:CARA) has been assigned a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. 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 company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.75.

A number of research firms recently issued reports on CARA. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Cara Therapeutics in a research note on Wednesday, October 4th. Scotiabank increased their price target on shares of Cara Therapeutics from $31.00 to $31.50 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Raymond James Financial increased their price target on shares of Cara Therapeutics from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 7th. Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, ValuEngine downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in shares of Cara Therapeutics by 10.4% during the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 678 shares in the last quarter. Fred Alger Management Inc. purchased a new stake in shares of Cara Therapeutics during the second quarter valued at approximately $123,000. Capital Fund Management S.A. purchased a new stake in shares of Cara Therapeutics during the second quarter valued at approximately $171,000. Voya Investment Management LLC grew its holdings in shares of Cara Therapeutics by 15.4% during the second quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 1,646 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Cara Therapeutics during the third quarter valued at approximately $180,000. 58.64% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics (NASDAQ:CARA) opened at $12.43 on Tuesday. Cara Therapeutics has a one year low of $10.25 and a one year high of $28.50. The stock has a market cap of $405.32, a PE ratio of -5.43 and a beta of 2.96.

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

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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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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