Canaccord Genuity set a $25.00 target price on Cara Therapeutics, Inc. (NASDAQ:CARA) in a research note released on Saturday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

CARA has been the topic of several other reports. Stifel Nicolaus reaffirmed a buy rating and issued a $20.00 price target (down from $24.00) on shares of Cara Therapeutics in a research report on Friday, June 23rd. Vetr raised Cara Therapeutics from a buy rating to a strong-buy rating and set a $22.99 price target on the stock in a research report on Tuesday, July 4th. HC Wainwright reaffirmed a buy rating and issued a $30.00 price target on shares of Cara Therapeutics in a research report on Monday, April 24th. Raymond James Financial, Inc. dropped their price target on Cara Therapeutics from $28.00 to $25.00 and set a market perform rating on the stock in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised Cara Therapeutics from a sell rating to a hold rating in a research report on Wednesday, May 10th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $25.18.

Cara Therapeutics (NASDAQ:CARA) opened at 14.36 on Friday. The firm has a 50-day moving average price of $16.62 and a 200-day moving average price of $16.30. The stock’s market cap is $466.80 million. Cara Therapeutics has a 12-month low of $5.27 and a 12-month high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.32. The business’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) earnings per share. Analysts forecast that Cara Therapeutics will post ($1.78) EPS for the current fiscal year.

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In related news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the vice president now owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Derek T. Chalmers sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The disclosure for this sale can be found here. Insiders have sold a total of 278,000 shares of company stock worth $6,888,750 in the last three months. 7.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CARA. Russell Investments Group Ltd. bought a new stake in shares of Cara Therapeutics during the fourth quarter valued at approximately $404,000. State Street Corp raised 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. Dimensional Fund Advisors LP raised its stake in shares of Cara Therapeutics by 37.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 229,626 shares of the biopharmaceutical company’s stock valued at $2,133,000 after buying an additional 62,518 shares in the last quarter. FMR LLC bought a new stake in shares of Cara Therapeutics during the fourth quarter valued at approximately $845,000. Finally, Teachers Advisors LLC raised its stake in shares of Cara Therapeutics by 8.3% in the fourth quarter. Teachers Advisors LLC now owns 33,390 shares of the biopharmaceutical company’s stock valued at $310,000 after buying an additional 2,552 shares in the last quarter. 52.75% of the stock is currently owned by institutional investors and hedge funds.

About Cara Therapeutics

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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