Several other equities research analysts have also recently commented on the company. 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. Piper Jaffray Companies lifted their target price on Cara Therapeutics from $35.00 to $39.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. 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. HC Wainwright reissued a buy rating and issued a $30.00 target price (down from $31.00) on shares of Cara Therapeutics in a research note on Monday, August 12th. Finally, Zacks Investment Research cut Cara Therapeutics from a buy rating to a hold rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Cara Therapeutics currently has an average rating of Buy and an average target price of $26.94.
NASDAQ CARA opened at $22.93 on Wednesday. The stock has a fifty day moving average of $23.61 and a 200-day moving average of $20.00. The stock has a market capitalization of $963.98 million, a P/E ratio of -11.13 and a beta of 2.18. Cara Therapeutics has a 52 week low of $12.19 and a 52 week high of $27.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.11 and a current ratio of 3.11.
In related news, CFO Mani Mohindru sold 2,496 shares of Cara Therapeutics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $21.39, for a total transaction of $53,389.44. Following the completion of the sale, the chief financial officer now directly owns 16,359 shares of the company’s stock, valued at $349,919.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Derek T. Chalmers sold 10,000 shares of Cara Therapeutics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $23.27, for a total value of $232,700.00. Following the sale, the chief executive officer now directly owns 948,468 shares of the company’s stock, valued at $22,070,850.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,848 shares of company stock valued at $2,844,442. 5.80% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG grew its stake in shares of 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 purchasing an additional 178,414 shares during the period. Exane Derivatives lifted its holdings in Cara Therapeutics by 194.9% during the second quarter. Exane Derivatives now owns 20,013 shares of the biopharmaceutical company’s stock worth $430,000 after acquiring an additional 13,226 shares in the last quarter. Knott David M bought a new position in Cara Therapeutics during the first quarter worth about $140,000. Mesirow Financial Investment Management Inc. lifted its holdings in Cara Therapeutics by 12.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 33,432 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 3,611 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Cara Therapeutics by 53.9% during the fourth quarter. Bank of America Corp DE now owns 29,908 shares of the biopharmaceutical company’s stock worth $388,000 after acquiring an additional 10,478 shares in the last quarter. 58.03% of the stock is owned by institutional investors and hedge funds.
About Cara Therapeutics
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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