Shares of Cara Therapeutics Inc (NASDAQ:CARA) have been assigned an average rating of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.94.
A number of research analysts recently weighed in on CARA shares. Zacks Investment Research raised Cara Therapeutics from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target (down from $31.00) on shares of Cara Therapeutics in a research note on Monday. Piper Jaffray Companies upped their price target on Cara Therapeutics from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC upped their price target on Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, BidaskClub downgraded Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 30th.
Shares of NASDAQ:CARA traded down $0.34 during midday trading on Wednesday, reaching $23.03. The company’s stock had a trading volume of 519,506 shares, compared to its average volume of 766,096. The firm has a market capitalization of $916.64 million, a price-to-earnings ratio of -11.18 and a beta of 2.18. The company has a quick ratio of 3.40, a current ratio of 3.11 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $22.97. Cara Therapeutics has a fifty-two week low of $12.19 and a fifty-two week high of $27.55.
In other Cara Therapeutics news, CFO Mani Mohindru sold 2,496 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $21.39, for a total transaction of $53,389.44. Following the completion of the sale, the chief financial officer now directly owns 16,359 shares of the company’s stock, valued at approximately $349,919.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederique Ph.D. Menzaghi sold 8,996 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $27.50, for a total value of $247,390.00. Following the sale, the insider now directly owns 119,886 shares of the company’s stock, valued at $3,296,865. The disclosure for this sale can be found here. Insiders have sold a total of 120,848 shares of company stock valued at $2,844,442 over the last three months. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. TCG Advisors LP bought a new stake in Cara Therapeutics during the 1st quarter worth approximately $30,000. Aperio Group LLC bought a new stake in Cara Therapeutics during the 2nd quarter worth approximately $88,000. BNP Paribas Arbitrage SA increased its holdings in Cara Therapeutics by 67,680.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,778 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 6,768 shares in the last quarter. Knott David M bought a new stake in Cara Therapeutics during the 1st quarter worth approximately $140,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Cara Therapeutics during the 4th quarter worth approximately $148,000. 56.19% of the stock is owned by hedge funds and other institutional investors.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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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