Cara Therapeutics (CARA) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a buy rating in a research report sent to investors on Friday. The brokerage currently has $17.00 price objective on the biopharmaceutical company’s stock.

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. “

Several other analysts have also issued reports on CARA. Cantor Fitzgerald set a $27.00 price target on shares of Cara Therapeutics and gave the company a buy rating in a research report on Wednesday, November 7th. BidaskClub lowered shares of Cara Therapeutics from a hold rating to a sell rating in a research report on Saturday, December 1st. Jefferies Financial Group initiated coverage on shares of Cara Therapeutics in a research report on Wednesday, February 6th. They set a buy rating and a $22.00 price target for the company. Bank of America initiated coverage on shares of Cara Therapeutics in a research report on Tuesday, January 15th. They set a neutral rating and a $19.00 price target for the company. Finally, Janney Montgomery Scott initiated coverage on shares of Cara Therapeutics in a research report on Thursday, December 20th. They set a buy rating and a $13.36 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $24.03.

CARA opened at $16.80 on Friday. Cara Therapeutics has a 52 week low of $11.46 and a 52 week high of $24.30.

In other news, insider Scott Terrillion sold 3,100 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $12.51, for a total transaction of $38,781.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mani Mohindru sold 16,042 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $18.50, for a total transaction of $296,777.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,492 shares of company stock valued at $1,563,622. Company insiders own 6.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of CARA. Avondale Wealth Management boosted its holdings in shares of Cara Therapeutics by 50.0% during the fourth quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cara Therapeutics by 36.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 964 shares during the period. Legal & General Group Plc boosted its holdings in shares of Cara Therapeutics by 36.2% during the third quarter. Legal & General Group Plc now owns 5,538 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,472 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Cara Therapeutics during the third quarter worth about $138,000. Finally, Creative Planning purchased a new stake in shares of Cara Therapeutics during the third quarter worth about $207,000. Institutional investors own 62.16% 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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