Analysts Set Cara Therapeutics Inc (CARA) Price Target at $26.21

Cara Therapeutics Inc (NASDAQ:CARA) has earned an average rating of “Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.73.

Several analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $27.00 price objective on shares of Cara Therapeutics in a research report on Thursday, October 4th. BidaskClub cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Jefferies Financial Group assumed coverage on Cara Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $30.00 price objective on the stock. Canaccord Genuity lifted their price objective on Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Finally, Stifel Nicolaus lifted their price objective on Cara Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th.

In other news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.99, for a total transaction of $71,970.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.79, for a total transaction of $475,800.00. The disclosure for this sale can be found here. Insiders have sold 49,000 shares of company stock valued at $1,058,070 over the last quarter. Company insiders own 6.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rathbone Brothers plc purchased a new position in Cara Therapeutics in the 3rd quarter worth approximately $228,000. Baxter Bros Inc. purchased a new position in Cara Therapeutics in the 3rd quarter worth approximately $299,000. Northern Trust Corp raised its holdings in Cara Therapeutics by 5.2% in the 2nd quarter. Northern Trust Corp now owns 336,581 shares of the biopharmaceutical company’s stock worth $6,446,000 after acquiring an additional 16,743 shares during the last quarter. Nexthera Capital LP raised its holdings in Cara Therapeutics by 24.1% in the 2nd quarter. Nexthera Capital LP now owns 435,800 shares of the biopharmaceutical company’s stock worth $8,346,000 after acquiring an additional 84,750 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Cara Therapeutics in the 2nd quarter worth approximately $6,682,000. Institutional investors own 48.66% of the company’s stock.

Cara Therapeutics stock traded down $0.41 during trading hours on Thursday, hitting $19.96. 370,100 shares of the stock traded hands, compared to its average volume of 1,004,625. The stock has a market cap of $941.01 million, a price-to-earnings ratio of -10.63 and a beta of 2.88. Cara Therapeutics has a one year low of $11.11 and a one year high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data 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 business had revenue of $2.87 million during the quarter, compared to analyst estimates of $0.63 million. As a group, equities analysts forecast that Cara Therapeutics will post -2.01 EPS for the current year.

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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