Cara Therapeutics, Inc. (NASDAQ:CARA) had its target price reduced by Scotiabank from $34.00 to $32.00 in a research report report published on Thursday morning, StockTargetPrices.com reports. Scotiabank currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on CARA. Vetr upgraded shares of Cara Therapeutics from a hold rating to a buy rating and set a $18.44 price objective on the stock in a research report on Wednesday, April 5th. Stifel Nicolaus restated a buy rating and set a $20.00 price objective (down previously from $24.00) on shares of Cara Therapeutics in a research report on Friday, June 30th. Laidlaw lowered their price objective on shares of Cara Therapeutics from $35.00 to $30.00 and set a buy rating on the stock in a research report on Friday, June 30th. Canaccord Genuity restated a buy rating and set a $25.00 price objective on shares of Cara Therapeutics in a research report on Wednesday, May 17th. Finally, Janney Montgomery Scott downgraded shares of Cara Therapeutics from a buy rating to a neutral rating and lowered their price objective for the company from $22.00 to $21.00 in a research report on Friday, June 30th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $25.18.

Cara Therapeutics (NASDAQ:CARA) traded up 22.86% during trading on Thursday, hitting $16.34. 4,677,749 shares of the company’s stock traded hands. The stock’s market cap is $531.16 million. Cara Therapeutics has a 12 month low of $5.07 and a 12 month high of $28.50. The company’s 50 day moving average is $16.88 and its 200-day moving average is $16.34.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.32. Cara Therapeutics’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.48) EPS. On average, analysts predict that Cara Therapeutics will post ($2.23) earnings per share for the current year.

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In other Cara Therapeutics news, CEO Derek T. Chalmers sold 25,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.05, for a total value of $376,250.00. Following the transaction, the chief executive officer now directly owns 1,107,292 shares in the company, valued at $16,664,744.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the vice president now owns 120,000 shares in the company, valued at $1,800,000. The disclosure for this sale can be found here. Insiders sold 278,000 shares of company stock worth $6,888,750 over the last quarter. Insiders own 7.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC increased its position in Cara Therapeutics by 7.5% in the first quarter. Tiedemann Wealth Management LLC now owns 21,425 shares of the biopharmaceutical company’s stock valued at $394,000 after buying an additional 1,500 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Cara Therapeutics by 71.4% in the first quarter. Parametric Portfolio Associates LLC now owns 98,962 shares of the biopharmaceutical company’s stock valued at $1,820,000 after buying an additional 41,237 shares during the last quarter. RHO Capital Partners Inc. increased its position in Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock valued at $65,617,000 after buying an additional 500,000 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Cara Therapeutics during the first quarter valued at $5,251,000. Finally, Jennison Associates LLC acquired a new position in Cara Therapeutics during the first quarter valued at $5,517,000. Institutional investors and hedge funds 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.

Stock Target Prices

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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