Cara Therapeutics (NASDAQ:CARA) Rating Reiterated by HC Wainwright

Cara Therapeutics (NASDAQ:CARA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Tuesday, AnalystRatings.com reports. They currently have a $30.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 60.60% from the company’s previous close.

Several other analysts have also issued reports on CARA. BidaskClub upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. ValuEngine cut Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Cara Therapeutics in a report on Thursday, October 17th. Finally, Zacks Investment Research lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $26.93.

Shares of CARA traded down $7.20 during mid-day trading on Tuesday, reaching $18.68. The company’s stock had a trading volume of 148,170 shares, compared to its average volume of 472,985. Cara Therapeutics has a 52 week low of $12.19 and a 52 week high of $27.55. The stock has a market cap of $1.04 billion, a PE ratio of -9.07 and a beta of 2.30. The company’s fifty day moving average price is $21.53 and its two-hundred day moving average price is $21.63. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.02.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.15). The business had revenue of $5.79 million for the quarter, compared to the consensus estimate of $5.56 million. Cara Therapeutics had a negative net margin of 470.70% and a negative return on equity of 70.35%. Research analysts anticipate that Cara Therapeutics will post -2.55 EPS for the current year.

In related news, Director Jeffrey L. Ives sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $18.21, for a total value of $45,525.00. Following the sale, the director now directly owns 8,500 shares of the company’s stock, valued at $154,785. 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 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $20.79, for a total value of $103,950.00. Following the completion of the sale, the chief executive officer now directly owns 928,468 shares in the company, valued at $19,302,849.72. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock valued at $692,495 over the last quarter. 5.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY grew its position in shares of Cara Therapeutics by 16.2% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,220 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 1,846 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Cara Therapeutics during the third quarter valued at approximately $190,000. Barclays PLC increased its stake in shares of Cara Therapeutics by 91.6% during the third quarter. Barclays PLC now owns 58,527 shares of the biopharmaceutical company’s stock valued at $1,070,000 after buying an additional 27,977 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $2,780,000. Finally, Penserra Capital Management LLC bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $180,000. Institutional investors and hedge funds own 76.08% of the company’s stock.

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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