Shares of Cara Therapeutics Inc (NASDAQ:CARA) have earned an average rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $26.93.

Several equities research analysts have recently weighed in on CARA shares. BidaskClub downgraded shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 30th. Piper Jaffray Companies increased their target price on shares of Cara Therapeutics from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC increased their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Zacks Investment Research downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective (down previously from $31.00) on shares of Cara Therapeutics in a research report on Monday.

In related news, insider Frederique Ph.D. Menzaghi sold 8,996 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $27.50, for a total value of $247,390.00. Following the completion of the sale, the insider now owns 119,886 shares in the company, valued at $3,296,865. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mani Mohindru sold 2,496 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $21.39, for a total transaction of $53,389.44. Following the completion of the sale, the chief financial officer now owns 16,359 shares of the company’s stock, valued at approximately $349,919.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,848 shares of company stock valued at $2,844,442. 5.80% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Cara Therapeutics by 3.6% during the 2nd quarter. BlackRock Inc. now owns 2,864,551 shares of the biopharmaceutical company’s stock valued at $61,587,000 after acquiring an additional 98,241 shares during the period. Vanguard Group Inc. lifted its position in shares of Cara Therapeutics by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,779,452 shares of the biopharmaceutical company’s stock valued at $38,258,000 after acquiring an additional 13,417 shares during the period. First Manhattan Co. lifted its position in shares of Cara Therapeutics by 17.3% during the 1st quarter. First Manhattan Co. now owns 981,220 shares of the biopharmaceutical company’s stock valued at $19,251,000 after acquiring an additional 144,578 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at approximately $20,490,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at approximately $20,454,000. Institutional investors own 57.84% of the company’s stock.

Shares of CARA traded down $0.36 during mid-day trading on Wednesday, hitting $23.04. 354,717 shares of the company’s stock were exchanged, compared to its average volume of 762,380. Cara Therapeutics has a fifty-two week low of $12.19 and a fifty-two week high of $27.55. The stock has a market cap of $930.20 million, a price-to-earnings ratio of -11.18 and a beta of 2.18. The company has a 50 day simple moving average of $23.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 3.11.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.03. Cara Therapeutics had a negative net margin of 420.97% and a negative return on equity of 68.36%. The business had revenue of $5.21 million during the quarter, compared to the consensus estimate of $5.14 million. On average, analysts expect that Cara Therapeutics will post -2.39 earnings per share for the current year.

Cara Therapeutics Company Profile

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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