Cara Therapeutics (NASDAQ:CARA) Raised to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a strong-buy rating in a research note published on Tuesday morning, ValuEngine reports.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $35.00 price objective on shares of Cara Therapeutics in a report on Tuesday. Zacks Investment Research cut Cara Therapeutics from a hold rating to a sell rating in a report on Tuesday, October 8th. BidaskClub upgraded Cara Therapeutics from a hold rating to a buy rating in a research report on Saturday, November 23rd. Finally, HC Wainwright reissued a buy rating and set a $30.00 price objective on shares of Cara Therapeutics in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $27.54.

Shares of NASDAQ CARA traded up $0.37 during trading hours on Tuesday, reaching $16.50. The stock had a trading volume of 58,247 shares, compared to its average volume of 730,144. The firm has a 50-day moving average of $21.38 and a 200-day moving average of $21.60. The firm has a market cap of $636.45 million, a price-to-earnings ratio of -7.99 and a beta of 2.30. 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 has a fifty-two week low of $12.19 and a fifty-two week high of $27.55.

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

In other news, CFO Mani Mohindru sold 4,755 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $17.05, for a total value of $81,072.75. Following the completion of the transaction, the chief financial officer now owns 22,196 shares of the company’s stock, valued at approximately $378,441.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott Terrillion sold 3,980 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $17.05, for a total value of $67,859.00. Following the completion of the transaction, the insider now directly owns 20,749 shares of the company’s stock, valued at approximately $353,770.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,934 shares of company stock valued at $1,346,320. 5.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Cara Therapeutics by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 14,557 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 814 shares in the last quarter. Creative Planning purchased a new stake in shares of Cara Therapeutics during the second quarter valued at $207,000. SG Americas Securities LLC grew its holdings in shares of Cara Therapeutics by 46.7% in the second quarter. SG Americas Securities LLC now owns 28,760 shares of the biopharmaceutical company’s stock worth $618,000 after purchasing an additional 9,161 shares during the last quarter. Aperio Group LLC bought a new position in shares of Cara Therapeutics in the second quarter worth about $88,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Cara Therapeutics by 340.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 59,500 shares of the biopharmaceutical company’s stock worth $1,258,000 after buying an additional 46,000 shares during the period. Institutional investors 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.

See Also: How much money do you need to begin day trading?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Receive News & Ratings for Cara Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.