Cara Therapeutics, Inc. (NASDAQ:CARA) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Cara Therapeutics, Inc. (NASDAQ:CARA) from a buy rating to a hold rating in a research report sent to investors on Monday, July 31st.

A number of other equities analysts also recently commented on the stock. Vetr upgraded shares of Cara Therapeutics from a hold rating to a strong-buy rating and set a $19.90 target price for the company in a report on Friday, April 14th. Raymond James Financial, Inc. reiterated a market perform rating and issued a $30.00 target price on shares of Cara Therapeutics in a report on Friday, April 28th. Cantor Fitzgerald reiterated an overweight rating and issued a $29.00 target price on shares of Cara Therapeutics in a report on Friday, May 19th. Scotiabank boosted their target price on shares of Cara Therapeutics from $33.00 to $34.00 and gave the stock an outperform rating in a report on Monday, May 15th. Finally, Canaccord Genuity reiterated a buy rating and issued a $25.00 target price on shares of Cara Therapeutics in a report on Wednesday, May 17th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $25.18.

Cara Therapeutics (CARA) opened at 13.96 on Monday. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $16.39. Cara Therapeutics has a one year low of $5.27 and a one year high of $28.50. The company’s market capitalization is $454.83 million.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.32. During the same quarter in the previous year, the business earned ($0.48) earnings per share. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, analysts anticipate that Cara Therapeutics will post ($1.78) earnings per share for the current fiscal year.

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In related news, CEO Derek T. Chalmers sold 25,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.05, for a total value of $376,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,107,292 shares of the company’s stock, valued at approximately $16,664,744.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the transaction, the vice president now directly owns 120,000 shares of the company’s stock, valued at $1,800,000. The disclosure for this sale can be found here. Insiders have sold a total of 278,000 shares of company stock worth $6,888,750 in the last quarter. Insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CARA. Quantbot Technologies LP purchased a new position in Cara Therapeutics during the first quarter valued at approximately $124,000. Legal & General Group Plc increased its position in Cara Therapeutics by 10.4% in the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 678 shares in the last quarter. UBS Group AG increased its position in Cara Therapeutics by 16.9% in the first quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 1,528 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Cara Therapeutics during the second quarter valued at approximately $171,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Cara Therapeutics by 0.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,824 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 60 shares in the last quarter. 52.75% of the stock is owned by hedge funds and other institutional investors.

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.

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