HC Wainwright Reaffirms “Buy” Rating for Cara Therapeutics, Inc. (CARA)

HC Wainwright reissued their buy rating on shares of Cara Therapeutics, Inc. (NASDAQ:CARA) in a research report sent to investors on Friday, June 30th. The brokerage currently has a $30.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the stock. Janney Montgomery Scott set a $20.00 target price on shares of Cara Therapeutics and gave the stock a buy rating in a research report on Saturday, March 11th. Royal Bank Of Canada cut their target price on shares of Cara Therapeutics from $32.00 to $31.00 and set an outperform rating for the company in a research report on Monday, May 15th. Vetr downgraded shares of Cara Therapeutics from a strong-buy rating to a buy rating and set a $21.73 target price for the company. in a research report on Wednesday, June 21st. Raymond James Financial, Inc. cut their target price on shares of Cara Therapeutics from $30.00 to $28.00 and set a market perform rating for the company in a research report on Monday, May 15th. Finally, ValuEngine raised shares of Cara Therapeutics from a sell rating to a hold rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $25.68.

Shares of Cara Therapeutics (NASDAQ:CARA) traded up 0.72% during trading on Friday, reaching $14.04. The company’s stock had a trading volume of 900,908 shares. The company’s market capitalization is $456.40 million. The firm’s 50-day moving average price is $17.10 and its 200-day moving average price is $16.23. Cara Therapeutics has a one year low of $5.07 and a one year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by $0.08. The company had revenue of $0.91 million for the quarter, compared to the consensus estimate of $0.11 million. During the same period in the prior year, the firm posted ($0.39) EPS. The firm’s revenue was up 12900.0% compared to the same quarter last year. On average, equities analysts anticipate that Cara Therapeutics will post ($2.44) earnings per share for the current year.

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In related news, CEO Derek T. Chalmers sold 25,000 shares of Cara Therapeutics stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.05, for a total transaction of $376,250.00. Following the transaction, the chief executive officer now owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction on Friday, July 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the vice president now owns 120,000 shares in the company, valued at approximately $1,800,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,000 shares of company stock valued at $6,888,750. Insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tiedemann Wealth Management LLC boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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. bought a new stake in shares of Cara Therapeutics during the first quarter valued at approximately $5,251,000. Finally, Jennison Associates LLC bought a new stake in shares of Cara Therapeutics during the first quarter valued at approximately $5,517,000. Institutional investors own 53.01% of the company’s stock.

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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