ValuEngine Downgrades Cara Therapeutics (NASDAQ:CARA) to Buy

Cara Therapeutics (NASDAQ:CARA) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other brokerages have also issued reports on CARA. BidaskClub lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald boosted their price target on shares of Cara Therapeutics from $29.00 to $33.00 in a research note on Wednesday, December 4th. Zacks Investment Research downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Cara Therapeutics in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $35.00 price objective on shares of Cara Therapeutics in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Cara Therapeutics has an average rating of “Buy” and an average target price of $27.54.

Shares of Cara Therapeutics stock opened at $16.40 on Wednesday. Cara Therapeutics has a 52-week low of $12.19 and a 52-week high of $27.55. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.02. The company’s 50-day simple moving average is $21.00 and its 200-day simple moving average is $21.52. The firm has a market cap of $654.46 million, a price-to-earnings ratio of -7.96 and a beta of 2.30.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.15). Cara Therapeutics had a negative return on equity of 70.35% and a negative net margin of 470.70%. The firm had revenue of $5.79 million for the quarter, compared to analyst estimates of $5.56 million. Equities research analysts anticipate that Cara Therapeutics will post -2.55 EPS for the current year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 10,699 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $17.05, for a total value of $182,417.95. Following the sale, the chief executive officer now owns 918,468 shares of the company’s stock, valued at $15,659,879.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey L. Ives sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $25.83, for a total transaction of $64,575.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $219,555. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,934 shares of company stock worth $1,346,320. 5.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CARA. First Manhattan Co. lifted its holdings in shares of Cara Therapeutics by 97.5% in the second quarter. First Manhattan Co. now owns 1,938,188 shares of the biopharmaceutical company’s stock valued at $41,671,000 after purchasing an additional 956,968 shares in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Cara Therapeutics in the second quarter valued at about $20,490,000. Farallon Capital Management LLC purchased a new stake in shares of Cara Therapeutics in the second quarter valued at about $20,454,000. C WorldWide Group Holding A S lifted its holdings in shares of Cara Therapeutics by 390.4% in the second quarter. C WorldWide Group Holding A S now owns 703,460 shares of the biopharmaceutical company’s stock valued at $15,124,000 after purchasing an additional 560,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Cara Therapeutics by 10.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,800,339 shares of the biopharmaceutical company’s stock valued at $60,207,000 after purchasing an additional 266,749 shares in the last quarter. 76.08% 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 with a primary focus on 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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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