Analysts Set Cara Therapeutics Inc (NASDAQ:CARA) PT at $35.40

Shares of Cara Therapeutics Inc (NASDAQ:CARA) have been given an average rating of “Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.40.

A number of analysts have recently commented on CARA shares. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price target on shares of Cara Therapeutics in a research report on Friday, May 22nd. Zacks Investment Research cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. BidaskClub cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. HC Wainwright boosted their price target on Cara Therapeutics from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $35.00 price target on shares of Cara Therapeutics in a research report on Thursday, June 18th.

Shares of CARA stock traded up $0.06 during midday trading on Friday, reaching $16.84. 110,973 shares of the stock were exchanged, compared to its average volume of 579,228. Cara Therapeutics has a 1 year low of $8.88 and a 1 year high of $27.55. The company’s 50 day moving average is $15.88 and its two-hundred day moving average is $15.38. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.02. The firm has a market cap of $784.37 million, a PE ratio of -6.59 and a beta of 1.86.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.01. Cara Therapeutics had a negative return on equity of 68.83% and a negative net margin of 480.29%. The firm had revenue of $8.09 million for the quarter, compared to the consensus estimate of $4.83 million. As a group, equities analysts expect that Cara Therapeutics will post -2.57 EPS for the current fiscal year.

In related news, SVP Frederique Ph.D. Menzaghi sold 12,894 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $15.58, for a total value of $200,888.52. Following the transaction, the senior vice president now directly owns 117,386 shares of the company’s stock, valued at approximately $1,828,873.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Terrillion sold 2,721 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $15.56, for a total value of $42,338.76. Following the transaction, the insider now directly owns 41,103 shares in the company, valued at $639,562.68. The disclosure for this sale can be found here. Insiders sold a total of 50,090 shares of company stock worth $781,982 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Cara Therapeutics by 7.1% in the fourth quarter. Bank of Montreal Can now owns 35,134 shares of the biopharmaceutical company’s stock worth $566,000 after purchasing an additional 2,317 shares during the last quarter. Trexquant Investment LP purchased a new position in Cara Therapeutics during the first quarter valued at approximately $206,000. State Street Corp increased its holdings in Cara Therapeutics by 2.1% during the first quarter. State Street Corp now owns 1,021,070 shares of the biopharmaceutical company’s stock valued at $13,488,000 after buying an additional 21,388 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Cara Therapeutics during the first quarter valued at approximately $154,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Cara Therapeutics by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 254,279 shares of the biopharmaceutical company’s stock valued at $4,097,000 after buying an additional 5,713 shares during the period. 68.86% of the stock is currently owned by hedge funds and other institutional investors.

Cara Therapeutics Company Profile

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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