Cantor Fitzgerald reiterated their buy rating on shares of Cara Therapeutics (NASDAQ:CARA) in a research note released on Thursday. They currently have a $27.00 price objective on the biopharmaceutical company’s stock.
“Compelling P2 safety and clinical activity data have been used to guide the design and risk-reduce pivotal P3 studies of IV KORSUVA in CKD-aP hemodialysis pts, from which we expect data in 2019. Our conviction for this program is bolstered by the significant partnership signed with a worldwide provider of hemodialysis services, which we believe validates the clinical and commercial potential. In addition, clinical success in CKD-aP could translate to other indications associated with pruritus, such as chronic liver disease, which should expand KORSUVA’s market opportunity.”,” the firm’s analyst wrote.
A number of other analysts have also commented on CARA. BidaskClub upgraded shares of Cara Therapeutics from a strong sell rating to a sell rating in a research note on Wednesday, June 13th. Needham & Company LLC boosted their price target on shares of Cara Therapeutics from $23.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, June 27th. HC Wainwright boosted their price target on shares of Cara Therapeutics from $24.00 to $26.00 and gave the company a buy rating in a research note on Thursday, June 28th. Canaccord Genuity restated a buy rating and set a $22.00 price target (up previously from $21.00) on shares of Cara Therapeutics in a research note on Thursday, June 28th. Finally, ValuEngine raised shares of Cara Therapeutics from a buy rating to a strong-buy rating in a report on Monday, July 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $26.27.
Shares of CARA stock opened at $20.72 on Thursday. The firm has a market cap of $941.01 million, a price-to-earnings ratio of -11.14 and a beta of 2.88. Cara Therapeutics has a 12 month low of $11.11 and a 12 month high of $24.30.
Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.02). The business had revenue of $2.87 million for the quarter, compared to analyst estimates of $0.63 million. On average, equities research analysts forecast that Cara Therapeutics will post -2.01 earnings per share for the current fiscal year.
In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction on Monday, August 20th. The shares were sold at an average price of $18.89, for a total transaction of $56,670.00. Following the transaction, the senior vice president now directly owns 101,000 shares of the company’s stock, valued at approximately $1,907,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.79, for a total transaction of $475,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,000 shares of company stock worth $1,470,870 over the last ninety days. Insiders own 6.70% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Cara Therapeutics by 3.7% in the 2nd quarter. BlackRock Inc. now owns 2,241,248 shares of the biopharmaceutical company’s stock worth $42,920,000 after buying an additional 80,842 shares during the last quarter. Chescapmanager LLC boosted its holdings in shares of Cara Therapeutics by 10.6% in the 2nd quarter. Chescapmanager LLC now owns 1,164,431 shares of the biopharmaceutical company’s stock worth $22,299,000 after buying an additional 111,498 shares during the last quarter. First Manhattan Co. boosted its holdings in shares of Cara Therapeutics by 205.9% in the 2nd quarter. First Manhattan Co. now owns 557,000 shares of the biopharmaceutical company’s stock worth $10,666,000 after buying an additional 374,900 shares during the last quarter. Nexthera Capital LP boosted its holdings in shares of Cara Therapeutics by 24.1% in the 2nd quarter. Nexthera Capital LP now owns 435,800 shares of the biopharmaceutical company’s stock worth $8,346,000 after buying an additional 84,750 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Cara Therapeutics in the 2nd quarter worth about $6,682,000. 48.66% of the stock is currently owned by institutional investors.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.
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