Cara Therapeutics (NASDAQ:CARA) had its price objective lifted by stock analysts at HC Wainwright from $26.00 to $28.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 30.90% from the stock’s previous close.

The analysts wrote, “Our $28 price target (from $26) is based on an overall 80% probability of success adjusted-DCF analysis including just Korsuva U.S. sales in CKD-aP, comprising peak IV Korsuva annual sales over $500M in the hemodialysis population, and further risk-discount oral Korsuva sales in Stage 3-5 CKD. The latter oral component’s $100M peak sales in our model reflects still a conservative 40% probability of success ($300M de-risked). Our DCF reflects a 10% WACC discount and 0% terminal growth beyond 2028.””

CARA has been the subject of a number of other reports. BidaskClub raised shares of Cara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 12th. Jefferies Financial Group began coverage on shares of Cara Therapeutics in a research report on Wednesday, February 6th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Needham & Company LLC boosted their price target on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Three research 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 company. The company has a consensus rating of “Buy” and a consensus price target of $24.67.

Shares of CARA opened at $21.39 on Wednesday. Cara Therapeutics has a 1-year low of $12.19 and a 1-year high of $24.30. The firm has a market capitalization of $714.73 million, a P/E ratio of -10.38 and a beta of 2.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.40 and a quick ratio of 3.40.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). Cara Therapeutics had a negative net margin of 443.71% and a negative return on equity of 67.30%. The company had revenue of $4.38 million during the quarter, compared to analysts’ expectations of $5.14 million. As a group, sell-side analysts predict that Cara Therapeutics will post -2.38 earnings per share for the current fiscal year.

In other news, CEO Derek T. Chalmers sold 5,528 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $21.42, for a total value of $118,409.76. Following the completion of the sale, the chief executive officer now directly owns 963,996 shares of the company’s stock, valued at $20,648,794.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frederique Ph.D. Menzaghi sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $18.65, for a total transaction of $373,000.00. Following the completion of the sale, the insider now directly owns 139,582 shares of the company’s stock, valued at $2,603,204.30. The disclosure for this sale can be found here. Insiders sold 55,462 shares of company stock valued at $1,093,006 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Several large investors have recently made changes to their positions in CARA. Bank of New York Mellon Corp increased its holdings in shares of Cara Therapeutics by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 142,244 shares of the biopharmaceutical company’s stock worth $3,407,000 after purchasing an additional 13,772 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Cara Therapeutics by 15.4% in the third quarter. Teachers Advisors LLC now owns 63,265 shares of the biopharmaceutical company’s stock worth $1,515,000 after acquiring an additional 8,461 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of Cara Therapeutics by 19.2% in the third quarter. TIAA CREF Investment Management LLC now owns 70,240 shares of the biopharmaceutical company’s stock worth $1,682,000 after acquiring an additional 11,312 shares during the period. Morgan Stanley grew its holdings in shares of Cara Therapeutics by 6.3% in the third quarter. Morgan Stanley now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,948,000 after acquiring an additional 4,840 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Cara Therapeutics by 24.5% during the third quarter. Vanguard Group Inc. now owns 1,551,344 shares of the biopharmaceutical company’s stock valued at $37,155,000 after purchasing an additional 305,020 shares during the period. 56.18% of the stock is owned by institutional investors and hedge funds.

About Cara Therapeutics

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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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