Cara Therapeutics (NASDAQ:CARA) Rating Increased to Hold at Zacks Investment Research

Cara Therapeutics (NASDAQ:CARA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “

Other analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Cara Therapeutics in a report on Tuesday, December 3rd. ValuEngine downgraded shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a report on Tuesday, December 3rd. Cantor Fitzgerald lifted their target price on shares of Cara Therapeutics from $29.00 to $33.00 in a report on Wednesday, December 4th. Finally, BidaskClub downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cara Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $31.14.

Cara Therapeutics stock opened at $16.80 on Tuesday. Cara Therapeutics has a fifty-two week low of $14.10 and a fifty-two week high of $27.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.21 and a current ratio of 4.21. The firm has a 50 day moving average price of $17.43 and a 200 day moving average price of $20.89. The company has a market capitalization of $647.65 million, a PE ratio of -8.16 and a beta of 2.18.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.15). Cara Therapeutics had a negative net margin of 470.70% and a negative return on equity of 70.35%. The company had revenue of $5.79 million during the quarter, compared to analyst estimates of $5.56 million. As a group, equities research analysts forecast that Cara Therapeutics will post -2.54 earnings per share for the current year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.05, for a total value of $160,500.00. Following the completion of the transaction, the chief executive officer now owns 917,769 shares of the company’s stock, valued at approximately $14,730,192.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Frederique Ph.D. Menzaghi sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $19.33, for a total transaction of $77,320.00. Following the completion of the transaction, the senior vice president now directly owns 67,886 shares of the company’s stock, valued at approximately $1,312,236.38. The disclosure for this sale can be found here. Insiders sold a total of 59,934 shares of company stock valued at $1,167,260 in the last three months. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CARA. Russell Investments Group Ltd. purchased a new position in Cara Therapeutics in the 3rd quarter valued at approximately $110,000. Penserra Capital Management LLC purchased a new stake in shares of Cara Therapeutics during the 3rd quarter worth $180,000. Squarepoint Ops LLC purchased a new stake in shares of Cara Therapeutics during the 3rd quarter worth $190,000. AQR Capital Management LLC purchased a new stake in shares of Cara Therapeutics during the 2nd quarter worth $231,000. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Cara Therapeutics by 16.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,220 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 1,846 shares during the last quarter. 76.08% of the stock is owned by institutional investors.

Cara Therapeutics Company Profile

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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