Stifel Nicolaus reiterated their buy rating on shares of Cara Therapeutics (NASDAQ:CARA) in a research report sent to investors on Wednesday. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also commented on CARA. Scotiabank boosted their price target on shares of Cara Therapeutics from $31.00 to $31.50 and gave the company an outperform rating in a research report on Tuesday, October 17th. ValuEngine lowered shares of Cara Therapeutics from a hold rating to a sell rating in a research report on Wednesday, September 27th. BidaskClub upgraded shares of Cara Therapeutics from a sell rating to a hold rating in a research report on Saturday, December 2nd. Raymond James Financial boosted their price target on shares of Cara Therapeutics from $25.00 to $26.00 and gave the company a market perform rating in a research report on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Cara Therapeutics from a buy rating to a hold rating in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Cara Therapeutics has a consensus rating of Buy and a consensus price target of $24.97.

Shares of Cara Therapeutics (NASDAQ:CARA) opened at $12.54 on Wednesday. Cara Therapeutics has a 12-month low of $10.09 and a 12-month high of $28.50. The firm has a market cap of $416.41, a PE ratio of -5.48 and a beta of 2.97.

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

In other news, CEO Derek T. Chalmers sold 16,000 shares of the company’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 transaction, 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 available through the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CARA. Legal & General Group Plc raised 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 worth $118,000 after buying an additional 678 shares during the last quarter. Voya Investment Management LLC raised its stake 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 worth $190,000 after buying an additional 1,646 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Cara Therapeutics by 18.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,280 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 3,353 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Cara Therapeutics by 25.0% during the third quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 4,275 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Cara Therapeutics by 16.7% during the second quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 4,375 shares during the last quarter. Institutional investors 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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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