Cara Therapeutics, Inc. (NASDAQ:CARA)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued on Friday, August 4th. They presently have a $30.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 113.37% from the stock’s previous close.
Several other research firms also recently issued reports on CARA. Janney Montgomery Scott restated a “buy” rating and set a $22.00 price objective on shares of Cara Therapeutics in a report on Wednesday, June 28th. Vetr upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $27.58 price target on the stock in a report on Wednesday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target (down previously from $24.00) on shares of Cara Therapeutics in a report on Friday, June 30th. Laidlaw cut their price target on shares of Cara Therapeutics from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, June 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Cara Therapeutics in a report on Wednesday, June 21st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $25.18.
Shares of Cara Therapeutics (NASDAQ:CARA) opened at 14.06 on Friday. The company’s market capitalization is $458.09 million. The stock has a 50 day moving average of $15.48 and a 200-day moving average of $16.45. Cara Therapeutics has a 52 week low of $5.27 and a 52 week high of $28.50.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.32. During the same quarter last year, the company posted ($0.48) EPS. Cara Therapeutics’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, analysts anticipate that Cara Therapeutics will post ($1.78) EPS for the current year.
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In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the vice president now owns 120,000 shares in the company, valued at approximately $1,800,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Derek T. Chalmers sold 25,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.05, for a total value of $376,250.00. Following the transaction, the chief executive officer now owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The disclosure for this sale can be found here. Insiders have sold a total of 278,000 shares of company stock worth $6,888,750 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CARA. RHO Capital Partners Inc. raised its position in shares of Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock worth $65,617,000 after buying an additional 500,000 shares during the period. State Street Corp raised its position in shares of Cara Therapeutics by 686.2% in the second quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock worth $49,943,000 after buying an additional 2,832,304 shares during the period. FMR LLC raised its position in shares of Cara Therapeutics by 27.7% in the second quarter. FMR LLC now owns 1,198,812 shares of the biopharmaceutical company’s stock worth $18,450,000 after buying an additional 260,036 shares during the period. Vanguard Group Inc. raised its position in shares of Cara Therapeutics by 17.4% in the second quarter. Vanguard Group Inc. now owns 1,107,874 shares of the biopharmaceutical company’s stock worth $17,050,000 after buying an additional 164,247 shares during the last quarter. Finally, Chescapmanager LLC raised its position in shares of Cara Therapeutics by 30.4% in the first quarter. Chescapmanager LLC now owns 893,390 shares of the biopharmaceutical company’s stock worth $16,429,000 after buying an additional 208,223 shares during the last quarter. Hedge funds and other institutional investors own 51.58% 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.
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