Cara Therapeutics Inc (CARA) Lifted to “Strong-Buy” at Vetr Inc.

Cara Therapeutics Inc (NASDAQ:CARA) was upgraded by Vetr from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, April 14th. The brokerage presently has a $19.90 target price on the biopharmaceutical company’s stock. Vetr‘s price objective suggests a potential upside of 18.10% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Jaffray Companies reiterated an “overweight” rating and set a $23.00 price objective on shares of Cara Therapeutics in a research note on Friday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective (up previously from $20.00) on shares of Cara Therapeutics in a research note on Tuesday, January 31st. Zacks Investment Research lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Canaccord Genuity restated a “buy” rating and set a $25.00 target price on shares of Cara Therapeutics in a research report on Friday, March 10th. Finally, Cantor Fitzgerald set a $24.00 price objective on Cara Therapeutics and gave the stock a “buy” rating in a report on Friday, March 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Cara Therapeutics currently has a consensus rating of “Buy” and an average target price of $26.17.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics (NASDAQ:CARA) traded down 0.65% on Friday, reaching $16.74. The company had a trading volume of 688,673 shares. The stock’s market capitalization is $544.17 million. The stock’s 50-day moving average price is $16.74 and its 200-day moving average price is $13.56. Cara Therapeutics has a 12-month low of $4.35 and a 12-month high of $20.90.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.73) by $0.08. The company had revenue of $0.91 million during the quarter, compared to the consensus estimate of $0.11 million. Cara Therapeutics’s revenue was up 12900.0% compared to the same quarter last year. During the same period last year, the business earned ($0.39) EPS. On average, equities research analysts anticipate that Cara Therapeutics will post ($2.35) EPS for the current fiscal year.

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In related news, major shareholder Ventures Vi Lp Rho acquired 500,000 shares of the business’s stock in a transaction dated Friday, March 31st. The shares were acquired at an average price of $18.19 per share, with a total value of $9,095,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CARA. FMR LLC bought a new stake in Cara Therapeutics during the fourth quarter worth $845,000. National Planning Corp raised its stake in Cara Therapeutics by 4.4% in the fourth quarter. National Planning Corp now owns 64,100 shares of the biopharmaceutical company’s stock worth $1,015,000 after buying an additional 2,700 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cara Therapeutics by 37.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 229,626 shares of the biopharmaceutical company’s stock worth $2,133,000 after buying an additional 62,518 shares during the last quarter. Creative Planning increased its position in shares of Cara Therapeutics by 9.3% in the first quarter. Creative Planning now owns 14,340 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 1,215 shares during the last quarter. Finally, State Street Corp increased its position in shares of Cara Therapeutics by 7.1% in the fourth quarter. State Street Corp now owns 348,531 shares of the biopharmaceutical company’s stock worth $3,244,000 after buying an additional 23,222 shares during the last quarter. 43.29% of the stock is currently owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.

5 Day Chart for NASDAQ:CARA

To view Vetr’s full report, visit Vetr’s official website.

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