Cara Therapeutics (NASDAQ:CARA) Hits New 52-Week High at $24.37

Shares of Cara Therapeutics Inc (NASDAQ:CARA) hit a new 52-week high during trading on Friday . The company traded as high as $24.37 and last traded at $24.31, with a volume of 71786 shares trading hands. The stock had previously closed at $22.71.

A number of brokerages have commented on CARA. Needham & Company LLC lifted their target price on Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Laidlaw lifted their target price on Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub downgraded YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, HC Wainwright boosted their price objective on Cara Therapeutics from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cara Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $25.31.

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.40 and a quick ratio of 3.40. The company has a 50-day moving average of $20.51. The firm has a market cap of $917.43 million, a price-to-earnings ratio of -11.79 and a beta of 2.25.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.01). Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%. The firm had revenue of $4.38 million for the quarter, compared to the consensus estimate of $5.14 million. On average, equities analysts expect that Cara Therapeutics Inc will post -2.38 earnings per share for the current year.

In related news, insider Frederique Ph.D. Menzaghi sold 11,397 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.19, for a total transaction of $241,502.43. Following the sale, the insider now owns 160,279 shares of the company’s stock, valued at $3,396,312.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mani Mohindru sold 2,496 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.39, for a total value of $53,389.44. Following the sale, the chief financial officer now directly owns 16,359 shares in the company, valued at approximately $349,919.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,921 shares of company stock worth $905,677. 5.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. TCG Advisors LP acquired a new stake in Cara Therapeutics during the 1st quarter valued at $30,000. Captrust Financial Advisors raised its stake in Cara Therapeutics by 40.0% during 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 raised its stake in Cara Therapeutics by 39,086.4% during 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. NumerixS Investment Technologies Inc acquired a new stake in Cara Therapeutics during the 4th quarter valued at $121,000. Finally, BNP Paribas Arbitrage SA raised its stake in Cara Therapeutics by 67,680.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,778 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 6,768 shares during the period. 56.10% of the stock is currently owned by institutional investors.

Cara Therapeutics Company Profile (NASDAQ:CARA)

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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