Cara Therapeutics Inc (CARA) Receives $24.03 Consensus Target Price from Analysts

Cara Therapeutics Inc (NASDAQ:CARA) has been assigned an average rating of “Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $24.03.

Several research firms have recently commented on CARA. Zacks Investment Research upgraded shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. BidaskClub lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Thursday, December 20th. Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Janney Montgomery Scott began coverage on shares of Cara Therapeutics in a report on Thursday, December 20th. They issued a “buy” rating and a $13.36 price target for the company.

In related news, CFO Mani Mohindru sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $12.55, for a total transaction of $56,475.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Frederique Ph.D. Menzaghi sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $12.53, for a total transaction of $53,879.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,942 shares of company stock valued at $1,871,450. 6.70% of the stock is currently owned by company insiders.



A number of large investors have recently added to or reduced their stakes in CARA. Avondale Wealth Management grew its position in Cara Therapeutics by 50.0% during the 4th quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cara Therapeutics by 36.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 964 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cara Therapeutics by 40.0% in the 4th quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 1,400 shares during the period. Advisory Services Network LLC lifted its stake in shares of Cara Therapeutics by 39,086.4% in the 4th quarter. Advisory Services Network LLC now owns 8,621 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 8,599 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Cara Therapeutics in the 4th quarter valued at $121,000. 61.72% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CARA traded down $0.15 during trading hours on Friday, hitting $18.80. The company’s stock had a trading volume of 277,288 shares, compared to its average volume of 655,396. Cara Therapeutics has a 52 week low of $11.46 and a 52 week high of $24.30. The firm has a market cap of $684.83 million, a P/E ratio of -9.13 and a beta of 2.68.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.07. The business had revenue of $5.53 million during the quarter, compared to the consensus estimate of $3.35 million. Sell-side analysts expect that Cara Therapeutics will post -2.31 EPS for the current fiscal 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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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