Cara Therapeutics (CARA) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a sell rating in a report released on Friday.

Other analysts have also issued reports about the company. CIBC dropped their price objective on Cara Therapeutics from $26.00 to $24.00 in a report on Tuesday, November 7th. Zacks Investment Research raised Cara Therapeutics from a hold rating to a buy rating and set a $14.00 price objective on the stock in a report on Wednesday, August 30th. Piper Jaffray Companies set a $27.00 price objective on Cara Therapeutics and gave the company a buy rating in a report on Saturday, August 5th. Canaccord Genuity set a $25.00 price objective on Cara Therapeutics and gave the company a buy rating in a report on Saturday, August 5th. Finally, HC Wainwright reissued a buy rating and issued a $30.00 price objective on shares of Cara Therapeutics in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $25.17.

Shares of Cara Therapeutics (NASDAQ:CARA) opened at $12.60 on Friday. Cara Therapeutics has a 1-year low of $8.62 and a 1-year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). During the same quarter in the prior year, the business earned ($0.42) earnings per share. sell-side analysts forecast that Cara Therapeutics will post -1.84 EPS for the current fiscal year.

In other news, CEO Derek T. Chalmers sold 16,000 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total value of $202,560.00. Following the sale, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at $13,499,256.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.

Large investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in Cara Therapeutics by 10.4% during the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 678 shares in the last quarter. Fred Alger Management Inc. purchased a new position in Cara Therapeutics during the second quarter worth approximately $123,000. Capital Fund Management S.A. purchased a new position in Cara Therapeutics during the second quarter worth approximately $171,000. State Board of Administration of Florida Retirement System purchased a new position in Cara Therapeutics during the third quarter worth approximately $180,000. Finally, Rathbone Brothers plc purchased a new position in Cara Therapeutics during the second quarter worth approximately $185,000. 58.80% of the stock is currently owned by hedge funds and other institutional investors.

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Cara Therapeutics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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