Cara Therapeutics Inc (CARA) Given Consensus Rating of “Buy” by Brokerages

Shares of Cara Therapeutics Inc (NASDAQ:CARA) have been assigned a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.00.

A number of research analysts recently issued reports on CARA shares. Zacks Investment Research cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Cantor Fitzgerald started coverage on shares of Cara Therapeutics in a report on Friday, September 21st. They set an “overweight” rating and a $27.00 price objective for the company. Jefferies Financial Group started coverage on shares of Cara Therapeutics in a report on Thursday, September 13th. They set a “buy” rating and a $30.00 price objective for the company. BidaskClub upgraded shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Finally, Canaccord Genuity boosted their price objective on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th.

NASDAQ CARA traded down $0.76 during trading on Monday, reaching $19.67. 445,287 shares of the stock traded hands, compared to its average volume of 565,634. Cara Therapeutics has a fifty-two week low of $11.46 and a fifty-two week high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). The company had revenue of $5.06 million for the quarter, compared to analysts’ expectations of $4.72 million. As a group, equities research analysts predict that Cara Therapeutics will post -2.08 earnings per share for the current year.

In other news, CEO Derek T. Chalmers sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $18.78, for a total value of $375,600.00. Following the completion of the transaction, the chief executive officer now owns 991,392 shares in the company, valued at $18,618,341.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.81, for a total transaction of $59,430.00. Following the completion of the transaction, the senior vice president now owns 98,000 shares of the company’s stock, valued at approximately $1,941,380. The disclosure for this sale can be found here. Insiders sold 99,484 shares of company stock valued at $2,044,195 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives acquired a new position in shares of Cara Therapeutics in the second quarter valued at approximately $138,000. Creative Planning acquired a new position in shares of Cara Therapeutics in the third quarter valued at approximately $207,000. Rathbone Brothers plc acquired a new position in shares of Cara Therapeutics in the third quarter valued at approximately $228,000. HAP Trading LLC boosted its holdings in shares of Cara Therapeutics by 207.5% in the third quarter. HAP Trading LLC now owns 10,753 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 20,753 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of Cara Therapeutics in the second quarter valued at approximately $218,000. Institutional investors own 48.88% of the company’s stock.

About Cara Therapeutics

Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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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