Cara Therapeutics, Inc. (CARA) Rating Increased to Buy at Zacks Investment Research
Cara Therapeutics, Inc. (NASDAQ:CARA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $14.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.11% from the company’s previous close.
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. “
CARA has been the topic of a number of other reports. Vetr raised Cara Therapeutics from a “buy” rating to a “strong-buy” rating and set a $22.99 price target on the stock in a report on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Cara Therapeutics in a research note on Friday, June 23rd. Cantor Fitzgerald reduced their price objective on Cara Therapeutics from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, May 12th. BidaskClub downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Cara Therapeutics in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.50.
Cara Therapeutics (NASDAQ CARA) traded up 2.06% during trading on Wednesday, reaching $12.86. 1,229,355 shares of the company’s stock traded hands. Cara Therapeutics has a 52-week low of $5.27 and a 52-week high of $28.50. The company’s 50 day moving average is $14.06 and its 200-day moving average is $16.29. The stock’s market cap is $418.99 million.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.32. During the same period in the previous year, the firm earned ($0.48) earnings per share. The business’s revenue was down 100.0% on a year-over-year basis. On average, analysts anticipate that Cara Therapeutics will post ($1.78) earnings per share for the current fiscal year.
In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the vice president now owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dean Slagel sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $25.87, for a total value of $6,467,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,000 shares of company stock worth $6,888,750. Corporate insiders own 7.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CARA. Quantbot Technologies LP bought a new position in Cara Therapeutics during the first quarter valued at $124,000. Legal & General Group Plc increased its position in Cara Therapeutics by 10.4% in 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 in the last quarter. Fred Alger Management Inc. bought a new position in Cara Therapeutics during the second quarter valued at $123,000. UBS Group AG increased its position in Cara Therapeutics by 16.9% in the first quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 1,528 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in Cara Therapeutics during the second quarter valued at $171,000. 61.13% of the stock is currently owned by hedge funds and other institutional investors.
Cara Therapeutics Company Profile
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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