Jefferies Financial Group started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the biopharmaceutical company’s stock.

CARA has been the topic of several other research reports. Zacks Investment Research cut shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Tuesday, July 24th. ValuEngine cut shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Tuesday, May 22nd. BidaskClub upgraded shares of Cara Therapeutics from a strong sell rating to a sell rating in a research note on Wednesday, June 13th. HC Wainwright lifted their price target on shares of Cara Therapeutics from $24.00 to $26.00 and gave the stock a buy rating in a research note on Thursday, June 28th. Finally, Stifel Nicolaus lifted their price target on shares of Cara Therapeutics to $20.00 and gave the stock a buy rating in a research note on Wednesday, May 23rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Cara Therapeutics currently has an average rating of Buy and a consensus target price of $26.21.

Shares of Cara Therapeutics stock opened at $21.79 on Thursday. The firm has a market cap of $819.21 million, a PE ratio of -11.72 and a beta of 2.90. Cara Therapeutics has a 1-year low of $11.11 and a 1-year high of $22.29.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.02). The firm had revenue of $2.87 million for the quarter, compared to analyst estimates of $0.63 million. equities research analysts forecast that Cara Therapeutics will post -1.98 earnings per share for the current fiscal year.

In related news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction on Monday, August 20th. The shares were sold at an average price of $18.89, for a total transaction of $56,670.00. Following the transaction, the senior vice president now owns 101,000 shares in the company, valued at approximately $1,907,890. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $20.64, for a total transaction of $412,800.00. Following the transaction, the chief executive officer now owns 1,051,392 shares in the company, valued at approximately $21,700,730.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,000 shares of company stock worth $980,100. 6.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARA. Wells Fargo & Company MN lifted its stake in shares of Cara Therapeutics by 322.5% during the 1st quarter. Wells Fargo & Company MN now owns 84,697 shares of the biopharmaceutical company’s stock valued at $1,049,000 after buying an additional 64,651 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Cara Therapeutics during the 1st quarter valued at $164,000. Swiss National Bank lifted its stake in shares of Cara Therapeutics by 12.8% during the 1st quarter. Swiss National Bank now owns 47,700 shares of the biopharmaceutical company’s stock valued at $591,000 after buying an additional 5,400 shares in the last quarter. Shepherd Kaplan Krochuk LLC lifted its stake in shares of Cara Therapeutics by 19.3% during the 1st quarter. Shepherd Kaplan Krochuk LLC now owns 31,585 shares of the biopharmaceutical company’s stock valued at $391,000 after buying an additional 5,117 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Cara Therapeutics by 34.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 23,206 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 5,889 shares in the last quarter. Institutional investors own 48.67% of the company’s stock.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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