Cara Therapeutics (CARA) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Cara Therapeutics from $22.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, August 8th. HC Wainwright set a $26.00 target price on Cara Therapeutics and gave the company a buy rating in a research note on Wednesday, August 8th. Zacks Investment Research raised Cara Therapeutics from a sell rating to a hold rating in a research note on Monday, July 30th. Canaccord Genuity reissued a buy rating and set a $22.00 target price (up previously from $21.00) on shares of Cara Therapeutics in a research note on Thursday, June 28th. Finally, ValuEngine raised Cara Therapeutics from a buy rating to a strong-buy rating in a research note on Monday, July 2nd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $26.27.

Shares of CARA opened at $20.72 on Thursday. The company has a market cap of $941.01 million, a P/E ratio of -11.14 and a beta of 2.88. Cara Therapeutics has a 12-month low of $11.11 and a 12-month high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The company had revenue of $2.87 million during the quarter, compared to the consensus estimate of $0.63 million. On average, equities analysts forecast that Cara Therapeutics will post -2.01 earnings per share for the current fiscal year.

In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was 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 in the company, valued at approximately $1,941,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.79, for a total value of $475,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,000 shares of company stock valued at $1,470,870 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exane Derivatives purchased a new position in Cara Therapeutics during the 2nd quarter valued at approximately $138,000. BB&T Securities LLC purchased a new position in Cara Therapeutics during the 2nd quarter valued at approximately $218,000. Raymond James & Associates purchased a new position in Cara Therapeutics during the 2nd quarter valued at approximately $250,000. Commonwealth Equity Services LLC grew its holdings in Cara Therapeutics by 34.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 23,206 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 5,889 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in Cara Therapeutics by 38.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 27,600 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 7,600 shares in the last quarter. Institutional investors and hedge funds own 48.66% of the company’s stock.

Cara Therapeutics Company Profile

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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