Cara Therapeutics Inc (CARA) Given Average Recommendation of “Buy” by Analysts

Shares of Cara Therapeutics Inc (NASDAQ:CARA) have earned an average recommendation of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.03.

A number of brokerages have recently issued reports on CARA. Zacks Investment Research cut Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Laidlaw set a $30.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 20th. Canaccord Genuity set a $25.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 20th. Jefferies Financial Group began coverage on Cara Therapeutics in a research note on Wednesday, February 6th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, HC Wainwright set a $30.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 20th.

Shares of NASDAQ:CARA opened at $16.56 on Wednesday. Cara Therapeutics has a 12-month low of $11.46 and a 12-month high of $24.30. The stock has a market cap of $660.08 million, a PE ratio of -8.90 and a beta of 2.87.

In related news, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $14.99, for a total value of $299,800.00. Following the sale, the chief executive officer now directly owns 953,788 shares of the company’s stock, valued at $14,297,282.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Derek T. Chalmers sold 15,825 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $12.53, for a total value of $198,287.25. The disclosure for this sale can be found here. Insiders sold 111,492 shares of company stock worth $1,563,622 over the last three months. 6.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CARA. Avondale Wealth Management grew its stake in shares of Cara Therapeutics by 50.0% in 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cara Therapeutics by 36.6% in 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 last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Cara Therapeutics in the fourth quarter worth about $121,000. Legal & General Group Plc grew its stake in shares of Cara Therapeutics by 36.2% in 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 last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Cara Therapeutics in the third quarter worth about $138,000. 62.16% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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