Cara Therapeutics Inc (NASDAQ:CARA) – Research analysts at Piper Jaffray Companies dropped their Q1 2019 earnings per share (EPS) estimates for shares of Cara Therapeutics in a research note issued to investors on Tuesday, March 12th. Piper Jaffray Companies analyst D. Amsellem now expects that the biopharmaceutical company will post earnings of ($0.56) per share for the quarter, down from their prior forecast of ($0.53). Piper Jaffray Companies has a “Buy” rating and a $27.00 price target on the stock. Piper Jaffray Companies also issued estimates for Cara Therapeutics’ Q2 2019 earnings at ($0.57) EPS, Q3 2019 earnings at ($0.52) EPS, Q4 2019 earnings at ($0.52) EPS, FY2019 earnings at ($2.18) EPS, FY2020 earnings at ($2.07) EPS, FY2021 earnings at ($2.16) EPS, FY2022 earnings at $0.61 EPS and FY2023 earnings at $3.13 EPS.
A number of other brokerages have also commented on CARA. Zacks Investment Research lowered 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 stock 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 stock a “buy” rating in a report on Thursday, December 20th. BidaskClub raised Cara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, HC Wainwright set a $30.00 target price on Cara Therapeutics and gave the company a “buy” rating in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.03.
Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.07. The company had revenue of $5.53 million for the quarter, compared to analysts’ expectations of $3.35 million.
In other news, CEO Derek T. Chalmers sold 15,825 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $12.53, for a total transaction of $198,287.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frederique Ph.D. Menzaghi sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $18.65, for a total value of $373,000.00. Following the transaction, the insider now directly owns 139,582 shares in the company, valued at approximately $2,603,204.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,942 shares of company stock valued at $1,871,450. 6.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avondale Wealth Management increased its position in Cara Therapeutics by 50.0% during the fourth quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cara Therapeutics by 36.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 964 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Cara Therapeutics by 40.0% in the 4th quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 1,400 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Cara Therapeutics by 36.2% during the 3rd 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. Finally, Pacer Advisors Inc. purchased a new position in shares of Cara Therapeutics during the 3rd quarter worth about $138,000. 61.72% of the stock is 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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