Needham & Company LLC reissued their buy rating on shares of Cara Therapeutics, Inc. (NASDAQ:CARA) in a research note issued to investors on Wednesday morning. They currently have a $23.00 price objective on the biopharmaceutical company’s stock.

CARA has been the topic of several other reports. Stifel Nicolaus reiterated a buy rating and issued a $20.00 price target (down from $24.00) on shares of Cara Therapeutics in a research report on Friday, June 23rd. Vetr upgraded shares of Cara Therapeutics from a buy rating to a strong-buy rating and set a $22.99 price target on the stock in a research report on Tuesday, July 4th. Raymond James Financial, Inc. decreased their price target on shares of Cara Therapeutics from $28.00 to $25.00 and set a market perform rating on the stock in a research report on Thursday, August 3rd. Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the stock a buy rating in a research report on Saturday, August 5th. Finally, HC Wainwright reiterated a buy rating and issued a $30.00 price target on shares of Cara Therapeutics in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $25.43.

Shares of Cara Therapeutics (NASDAQ CARA) opened at 13.65 on Wednesday. The company’s market cap is $444.73 million. The firm’s 50-day moving average is $13.45 and its 200-day moving average is $15.83. Cara Therapeutics has a one year low of $5.85 and a one year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.32. During the same quarter in the prior year, the company earned ($0.48) earnings per share. Cara Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, equities analysts anticipate that Cara Therapeutics will post ($1.78) EPS for the current year.

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In other Cara Therapeutics news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the vice president now directly owns 120,000 shares in the company, valued at approximately $1,800,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Derek T. Chalmers sold 25,000 shares of Cara Therapeutics stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.05, for a total transaction of $376,250.00. Following the completion of the sale, the chief executive officer now owns 1,107,292 shares in the company, valued at $16,664,744.60. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Cara Therapeutics in the 1st quarter valued at $124,000. Legal & General Group Plc increased its holdings in Cara Therapeutics by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 678 shares during the last quarter. Fred Alger Management Inc. bought a new stake in Cara Therapeutics in the 2nd quarter valued at $123,000. UBS Group AG increased its holdings in Cara Therapeutics by 16.9% in the 1st quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in Cara Therapeutics in the 2nd quarter valued at $171,000. Institutional investors own 61.13% 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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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