Cara Therapeutics (CARA) Stock Rating Lowered by Zacks Investment Research

Cara Therapeutics (NASDAQ:CARA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “

Other equities research analysts have also recently issued reports about the stock. HC Wainwright set a $30.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. Laidlaw set a $30.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. Canaccord Genuity set a $25.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. Piper Jaffray Companies set a $27.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, Janney Montgomery Scott started coverage on shares of Cara Therapeutics in a research report on Thursday, December 20th. They issued a “buy” rating and a $13.36 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.03.

Shares of CARA traded down $0.58 during mid-day trading on Friday, hitting $18.37. The company had a trading volume of 1,713,773 shares, compared to its average volume of 676,184. Cara Therapeutics has a 1-year low of $11.46 and a 1-year high of $24.30. The stock has a market capitalization of $684.83 million, a PE ratio of -8.92 and a beta of 2.68.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.07. The company had revenue of $5.53 million during the quarter, compared to analyst estimates of $3.35 million. On average, research analysts expect that Cara Therapeutics will post -2.31 earnings per share for the current year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 15,825 shares of Cara Therapeutics stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $12.53, for a total transaction of $198,287.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Frederique Ph.D. Menzaghi sold 4,300 shares of Cara Therapeutics stock in a transaction that occurred on Friday, December 28th. The shares were 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. Over the last ninety days, insiders have sold 144,983 shares of company stock worth $2,178,154. 6.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CARA. Bank of America Corp DE lifted its position in Cara Therapeutics by 156.3% during the second quarter. Bank of America Corp DE now owns 61,429 shares of the biopharmaceutical company’s stock valued at $1,177,000 after buying an additional 37,462 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cara Therapeutics by 5.2% during the second quarter. Northern Trust Corp now owns 336,581 shares of the biopharmaceutical company’s stock valued at $6,446,000 after purchasing an additional 16,743 shares during the period. Wells Fargo & Company MN raised its stake in shares of Cara Therapeutics by 26.0% during the third quarter. Wells Fargo & Company MN now owns 112,079 shares of the biopharmaceutical company’s stock valued at $2,684,000 after purchasing an additional 23,130 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Cara Therapeutics by 27.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,452 shares of the biopharmaceutical company’s stock valued at $634,000 after purchasing an additional 5,646 shares during the period. Finally, Swiss National Bank raised its stake in shares of Cara Therapeutics by 17.6% during the third quarter. Swiss National Bank now owns 56,100 shares of the biopharmaceutical company’s stock valued at $1,344,000 after purchasing an additional 8,400 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

About Cara Therapeutics

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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