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 report issued on Monday, July 31st.

Other equities research analysts have also issued reports about the company. CIBC upped their price objective on Cara Therapeutics from $28.00 to $29.00 in a research note on Monday, May 15th. Canaccord Genuity restated a buy rating and issued a $25.00 price objective on shares of Cara Therapeutics in a research note on Wednesday, May 17th. Piper Jaffray Companies restated a buy rating and issued a $27.00 price objective on shares of Cara Therapeutics in a research note on Thursday, April 6th. Vetr upgraded Cara Therapeutics from a hold rating to a buy rating and set a $18.44 price objective for the company in a research note on Wednesday, April 5th. Finally, HC Wainwright restated a buy rating and issued a $30.00 price objective on shares of Cara Therapeutics in a research note on Monday, April 24th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $25.18.

Cara Therapeutics (NASDAQ:CARA) traded down 2.74% during trading on Monday, hitting $13.14. The stock had a trading volume of 756,277 shares. The company has a 50-day moving average price of $14.38 and a 200-day moving average price of $16.41. Cara Therapeutics has a 52-week low of $5.27 and a 52-week high of $28.50. The company’s market cap is $428.11 million.

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

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In other Cara Therapeutics news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the vice president now owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dean Slagel sold 250,000 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $25.87, for a total transaction of $6,467,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 278,000 shares of company stock valued at $6,888,750 in the last three months. Insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARA. FMR LLC bought a new position in Cara Therapeutics during the fourth quarter valued at approximately $845,000. Private Advisor Group LLC increased its position in shares of Cara Therapeutics by 120.5% in the first quarter. Private Advisor Group LLC now owns 23,737 shares of the biopharmaceutical company’s stock worth $417,000 after buying an additional 12,970 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Cara Therapeutics during the first quarter worth approximately $673,000. 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. 51.58% of the stock is 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.

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