Shares of Cara Therapeutics Inc (NASDAQ:CARA) have earned an average recommendation of “Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.00.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. Cantor Fitzgerald set a $27.00 target price on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Wednesday. BidaskClub lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Jefferies Financial Group started coverage on shares of Cara Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Canaccord Genuity lifted their price target on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th.
In related news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $18.89, for a total transaction of $56,670.00. Following the completion of the transaction, the senior vice president now directly owns 101,000 shares of the company’s stock, valued at approximately $1,907,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $19.71, for a total transaction of $394,200.00. Following the transaction, the chief executive officer now directly owns 1,031,392 shares of the company’s stock, valued at $20,328,736.32. The disclosure for this sale can be found here. Insiders have sold a total of 99,484 shares of company stock valued at $2,044,195 over the last three months. 6.70% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Exane Derivatives bought a new position in Cara Therapeutics during the 2nd quarter valued at about $138,000. Creative Planning bought a new position in shares of Cara Therapeutics in the third quarter worth about $207,000. Rathbone Brothers plc bought a new position in shares of Cara Therapeutics in the third quarter worth about $228,000. HAP Trading LLC raised its stake in shares of Cara Therapeutics by 207.5% in the third quarter. HAP Trading LLC now owns 10,753 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 20,753 shares during the last quarter. Finally, BB&T Securities LLC bought a new position in shares of Cara Therapeutics in the second quarter worth about $218,000. 48.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Cara Therapeutics stock traded down $0.76 during trading on Monday, hitting $19.67. 445,287 shares of the company’s stock traded hands, compared to its average volume of 565,634. Cara Therapeutics has a twelve month low of $11.46 and a twelve month high of $24.30.
Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.05). The firm had revenue of $5.06 million for the quarter, compared to analyst estimates of $4.72 million. Research analysts forecast that Cara Therapeutics will post -2.08 earnings per share for the current year.
Cara Therapeutics Company Profile
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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