Cara Therapeutics (CARA) Downgraded to Sell at Zacks Investment Research

Cara Therapeutics (NASDAQ:CARA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “

A number of other brokerages have also issued reports on CARA. ValuEngine lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. CIBC cut their target price on Cara Therapeutics from $26.00 to $24.00 in a research report on Tuesday, November 7th. BidaskClub upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. BMO Capital Markets restated a “market perform” rating and issued a $25.00 target price on shares of Cara Therapeutics in a research report on Tuesday, November 7th. Finally, Scotiabank cut their target price on Cara Therapeutics from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Cara Therapeutics presently has a consensus rating of “Buy” and an average price target of $24.97.

Shares of Cara Therapeutics (NASDAQ CARA) traded down $0.23 during mid-day trading on Friday, reaching $12.54. The company had a trading volume of 1,126,860 shares, compared to its average volume of 946,619. Cara Therapeutics has a 1-year low of $10.10 and a 1-year high of $28.50. The company has a market cap of $408.90, a price-to-earnings ratio of -5.48 and a beta of 2.97.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). During the same period last year, the company earned ($0.42) earnings per share. equities research analysts forecast that Cara Therapeutics will post -1.84 earnings per share for the current fiscal year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total value of $202,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,066,292 shares in the company, valued at $13,499,256.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Cara Therapeutics by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 678 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at $123,000. Capital Fund Management S.A. acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at $171,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Cara Therapeutics during the 3rd quarter valued at $180,000. Finally, Rathbone Brothers plc acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at $185,000. Institutional investors own 58.64% of the company’s stock.

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About Cara Therapeutics

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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