Piper Jaffray Companies Comments on Cara Therapeutics Inc’s Q3 2019 Earnings (NASDAQ:CARA)

Cara Therapeutics Inc (NASDAQ:CARA) – Equities researchers at Piper Jaffray Companies lifted their Q3 2019 earnings per share estimates for shares of Cara Therapeutics in a report released on Tuesday, July 30th. Piper Jaffray Companies analyst D. Amsellem now forecasts that the biopharmaceutical company will post earnings of ($0.62) per share for the quarter, up from their previous forecast of ($0.64). Piper Jaffray Companies currently has a “Overweight” rating and a $39.00 target price on the stock. Piper Jaffray Companies also issued estimates for Cara Therapeutics’ Q4 2019 earnings at ($0.63) EPS, FY2019 earnings at ($2.39) EPS, Q1 2020 earnings at ($0.66) EPS, Q2 2020 earnings at ($0.67) EPS, Q3 2020 earnings at ($0.60) EPS, FY2020 earnings at ($2.48) EPS, FY2021 earnings at ($2.07) EPS and FY2022 earnings at $0.25 EPS.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.01). The company had revenue of $4.38 million for the quarter, compared to analyst estimates of $5.14 million. Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%.

A number of other research firms have also recently issued reports on CARA. HC Wainwright upped their price objective on shares of Cara Therapeutics from $28.00 to $31.00 and gave the stock an “average” rating in a research report on Monday, July 22nd. BidaskClub cut shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Laidlaw upped their price objective on shares of Cara Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Needham & Company LLC upped their price objective on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.94.

CARA stock opened at $22.63 on Thursday. The stock’s 50 day moving average is $22.53. The firm has a market cap of $899.59 million, a PE ratio of -10.99 and a beta of 2.25. Cara Therapeutics has a 1 year low of $12.19 and a 1 year high of $27.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.40 and a current ratio of 3.40.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Cara Therapeutics by 1.5% during the 4th quarter. BlackRock Inc. now owns 2,800,605 shares of the biopharmaceutical company’s stock worth $36,407,000 after acquiring an additional 42,487 shares during the last quarter. First Manhattan Co. grew its holdings in Cara Therapeutics by 17.3% during the 1st quarter. First Manhattan Co. now owns 981,220 shares of the biopharmaceutical company’s stock worth $19,251,000 after acquiring an additional 144,578 shares during the last quarter. C WorldWide Group Holding A S grew its holdings in Cara Therapeutics by 390.4% during the 2nd quarter. C WorldWide Group Holding A S now owns 703,460 shares of the biopharmaceutical company’s stock worth $15,124,000 after acquiring an additional 560,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cara Therapeutics by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 368,306 shares of the biopharmaceutical company’s stock worth $4,787,000 after acquiring an additional 20,647 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Cara Therapeutics by 141.9% during the 4th quarter. Deutsche Bank AG now owns 304,177 shares of the biopharmaceutical company’s stock worth $3,953,000 after acquiring an additional 178,414 shares during the last quarter. 56.17% of the stock is currently owned by hedge funds and other institutional investors.

In other Cara Therapeutics news, Director Jeffrey L. Ives sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.75, for a total transaction of $54,375.00. Following the sale, the director now directly owns 8,500 shares of the company’s stock, valued at approximately $184,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederique Ph.D. Menzaghi sold 8,996 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $27.50, for a total transaction of $247,390.00. Following the sale, the insider now directly owns 119,886 shares in the company, valued at $3,296,865. The disclosure for this sale can be found here. Insiders have sold a total of 88,348 shares of company stock worth $2,088,842 over the last three months. Insiders own 5.80% 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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Earnings History and Estimates for Cara Therapeutics (NASDAQ:CARA)

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