Cara Therapeutics (NASDAQ:CARA) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

Several other brokerages also recently commented on CARA. Laidlaw increased their target price on shares of Cara Therapeutics from $26.00 to $32.00 and gave the company a buy rating in a report on Wednesday, May 29th. Piper Jaffray Companies increased their target price on shares of Cara Therapeutics from $35.00 to $39.00 and gave the company an overweight rating in a report on Tuesday. HC Wainwright increased their target price on shares of Cara Therapeutics from $28.00 to $31.00 and gave the company an average rating in a report on Monday, July 22nd. BidaskClub downgraded shares of Cara Therapeutics from a strong-buy rating to a buy rating in a report on Tuesday. Finally, Needham & Company LLC increased their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a buy rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $26.94.

Shares of CARA stock opened at $22.63 on Tuesday. The firm has a 50-day moving average price of $22.53. The stock has a market capitalization of $899.59 million, a P/E ratio of -10.99 and a beta of 2.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.40 and a current ratio of 3.40. Cara Therapeutics has a one year low of $12.19 and a one year high of $27.55.

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). The firm had revenue of $4.38 million during the quarter, compared to analysts’ expectations of $5.14 million. Cara Therapeutics had a negative net margin of 443.71% and a negative return on equity of 67.30%. On average, equities research analysts predict that Cara Therapeutics will post -2.35 earnings per share for the current year.

In related news, insider Frederique Ph.D. Menzaghi sold 8,996 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $27.50, for a total transaction of $247,390.00. Following the completion of the sale, the insider now owns 119,886 shares in the company, valued at $3,296,865. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mani Mohindru sold 37,431 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $25.00, for a total transaction of $935,775.00. Following the sale, the chief financial officer now owns 51,294 shares of the company’s stock, valued at approximately $1,282,350. The disclosure for this sale can be found here. Insiders have sold 88,348 shares of company stock valued at $2,088,842 in the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CARA. C WorldWide Group Holding A S increased its holdings in Cara Therapeutics by 390.4% during the second quarter. C WorldWide Group Holding A S now owns 703,460 shares of the biopharmaceutical company’s stock worth $15,124,000 after buying an additional 560,000 shares during the last quarter. Deutsche Bank AG increased its holdings in Cara Therapeutics by 141.9% during the fourth quarter. Deutsche Bank AG now owns 304,177 shares of the biopharmaceutical company’s stock worth $3,953,000 after buying an additional 178,414 shares during the last quarter. First Manhattan Co. increased its holdings in Cara Therapeutics by 17.3% during the first quarter. First Manhattan Co. now owns 981,220 shares of the biopharmaceutical company’s stock worth $19,251,000 after buying an additional 144,578 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Cara Therapeutics during the fourth quarter worth about $1,578,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Cara Therapeutics by 340.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 59,500 shares of the biopharmaceutical company’s stock worth $1,258,000 after buying an additional 46,000 shares during the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.

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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