ValuEngine Lowers Cara Therapeutics (NASDAQ:CARA) to Buy

ValuEngine downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a strong-buy rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

CARA has been the subject of several other reports. HC Wainwright restated a buy rating and issued a $30.00 price objective (down from $31.00) on shares of Cara Therapeutics in a report on Monday, August 12th. Needham & Company LLC restated a buy rating and issued a $35.00 price objective on shares of Cara Therapeutics in a report on Thursday, October 17th. BidaskClub upgraded shares of Cara Therapeutics from a sell rating to a hold rating in a report on Wednesday, October 30th. Zacks Investment Research lowered shares of Cara Therapeutics from a hold rating to a sell rating in a report on Tuesday, October 8th. Finally, Piper Jaffray Companies increased their price target on shares of Cara Therapeutics from $35.00 to $39.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Cara Therapeutics currently has an average rating of Buy and a consensus target price of $26.93.

Cara Therapeutics stock traded down $0.28 during midday trading on Thursday, reaching $21.16. 385,600 shares of the stock were exchanged, compared to its average volume of 374,846. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.21 and a current ratio of 4.21. Cara Therapeutics has a 52 week low of $12.19 and a 52 week high of $27.55. The firm has a market cap of $858.20 million, a PE ratio of -10.27 and a beta of 2.23. The company’s fifty day moving average is $19.69 and its 200-day moving average is $21.22.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $5.79 million during the quarter, compared to the consensus estimate of $5.56 million. On average, sell-side analysts anticipate that Cara Therapeutics will post -2.55 earnings per share for the current fiscal year.

In related news, Director Jeffrey L. Ives sold 2,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $23.31, for a total value of $58,275.00. Following the completion of the transaction, the director now directly owns 8,500 shares in the company, valued at approximately $198,135. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Derek T. Chalmers sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $23.26, for a total transaction of $116,300.00. Following the completion of the transaction, the chief executive officer now owns 943,468 shares of the company’s stock, valued at $21,945,065.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,500 shares of company stock valued at $1,325,470. 5.80% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Cara Therapeutics by 3.6% during the 2nd quarter. BlackRock Inc. now owns 2,864,551 shares of the biopharmaceutical company’s stock valued at $61,587,000 after purchasing an additional 98,241 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Cara Therapeutics by 10.5% during the 2nd 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. First Manhattan Co. increased its stake in Cara Therapeutics by 97.5% during the 2nd 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. Vanguard Group Inc. increased its stake in Cara Therapeutics by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,779,452 shares of the biopharmaceutical company’s stock valued at $38,258,000 after purchasing an additional 13,417 shares in the last quarter. Finally, ETF Managers Group LLC bought a new stake in Cara Therapeutics during the 2nd quarter valued at about $20,490,000. Institutional investors and hedge funds own 64.87% of the company’s stock.

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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