Cara Therapeutics, Inc. (NASDAQ:CARA) had its price objective decreased by Raymond James Financial, Inc. from $28.00 to $25.00 in a report released on Thursday. Raymond James Financial, Inc. currently has a market perform rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the stock. Canaccord Genuity set a $25.00 target price on shares of Cara Therapeutics and gave the stock a buy rating in a research note on Saturday, July 1st. Piper Jaffray Companies reissued a buy rating and set a $27.00 target price on shares of Cara Therapeutics in a research note on Saturday, July 1st. Royal Bank Of Canada cut their target price on shares of Cara Therapeutics from $32.00 to $31.00 and set an outperform rating on the stock in a research note on Monday, May 15th. HC Wainwright reissued a buy rating and set a $30.00 target price on shares of Cara Therapeutics in a research note on Monday, April 24th. Finally, Vetr lowered shares of Cara Therapeutics from a strong-buy rating to a buy rating and set a $21.73 target price on the stock. in a research note on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $25.18.

Shares of Cara Therapeutics (CARA) traded up 22.86% during midday trading on Thursday, hitting $16.34. 4,677,749 shares of the company were exchanged. The firm’s market capitalization is $531.16 million. The firm’s 50 day moving average price is $16.88 and its 200 day moving average price is $16.34. Cara Therapeutics has a one year low of $5.07 and a one year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.32. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.48) EPS. Analysts forecast that Cara Therapeutics will post ($2.23) EPS for the current fiscal year.

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In other Cara Therapeutics news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the vice president now owns 120,000 shares in the company, valued at $1,800,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Derek T. Chalmers sold 25,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.05, for a total transaction of $376,250.00. Following the transaction, the chief executive officer now owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,000 shares of company stock worth $6,888,750. Corporate insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new stake in shares of Cara Therapeutics during the fourth quarter valued at approximately $845,000. Private Advisor Group LLC increased its stake in shares of Cara Therapeutics by 120.5% in the first quarter. Private Advisor Group LLC now owns 23,737 shares of the biopharmaceutical company’s stock valued at $417,000 after buying an additional 12,970 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Cara Therapeutics during the first quarter valued at approximately $673,000. Creative Planning increased its stake in shares of Cara Therapeutics by 9.3% in the first quarter. Creative Planning now owns 14,340 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 1,215 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Cara Therapeutics by 7.1% in the fourth quarter. State Street Corp now owns 348,531 shares of the biopharmaceutical company’s stock valued at $3,244,000 after buying an additional 23,222 shares in the last quarter. Hedge funds and other institutional investors own 52.72% of the company’s stock.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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