Cara Therapeutics, Inc. (NASDAQ:CARA) had its target price increased by Raymond James Financial, Inc. from $25.00 to $26.00 in a research report sent to investors on Tuesday morning, reports. They currently have a market perform rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Cara Therapeutics from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Wednesday, August 30th. Scotiabank boosted their price objective 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. BidaskClub lowered shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Monday, July 31st. HC Wainwright reaffirmed a buy rating and issued a $30.00 target price on shares of Cara Therapeutics in a report on Friday, August 4th. Finally, ValuEngine cut shares of Cara Therapeutics from a hold rating to a sell rating in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Cara Therapeutics has an average rating of Buy and a consensus target price of $25.17.

Cara Therapeutics (CARA) traded up $0.37 during trading hours on Tuesday, reaching $13.26. 1,156,810 shares of the company traded hands, compared to its average volume of 1,874,505. Cara Therapeutics has a 1-year low of $8.61 and a 1-year high of $28.50.

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

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In related news, CEO Derek T. Chalmers sold 16,000 shares of the business’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 sale, the chief executive officer now directly owns 1,066,292 shares in the company, valued at $13,499,256.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CARA. Legal & General Group Plc grew its position in 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 buying an additional 678 shares during the period. Fred Alger Management Inc. purchased a new stake in shares of Cara Therapeutics in the second quarter valued at $123,000. Capital Fund Management S.A. purchased a new stake in shares of Cara Therapeutics in the second quarter valued at $171,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Cara Therapeutics in the third quarter valued at $180,000. Finally, Rathbone Brothers plc purchased a new stake in shares of Cara Therapeutics in the second quarter valued at $185,000. Institutional investors own 61.08% of the company’s stock.

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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