BidaskClub Downgrades Cara Therapeutics (CARA) to Sell

BidaskClub downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a hold rating to a sell rating in a research note published on Friday, BidAskClub reports.

A number of other brokerages have also issued reports on CARA. Zacks Investment Research lowered shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Friday, March 15th. Jefferies Financial Group assumed coverage on shares of Cara Therapeutics in a research note on Wednesday, February 6th. They set a buy rating and a $22.00 price target on the stock. Bank of America assumed coverage on shares of Cara Therapeutics in a research note on Tuesday, January 15th. They set a neutral rating and a $19.00 price target on the stock. Janney Montgomery Scott assumed coverage on shares of Cara Therapeutics in a research note on Thursday, December 20th. They set a buy rating and a $13.36 price target on the stock. Finally, HC Wainwright set a $30.00 price target on shares of Cara Therapeutics and gave the company a buy rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $24.03.

NASDAQ CARA opened at $17.70 on Friday. The company has a market cap of $700.00 million, a P/E ratio of -8.59 and a beta of 2.70. Cara Therapeutics has a 52 week low of $11.50 and a 52 week high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.07. The company had revenue of $5.53 million for the quarter, compared to analyst estimates of $3.35 million. On average, analysts forecast that Cara Therapeutics will post -2.35 earnings per share for the current year.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $14.99, for a total transaction of $299,800.00. Following the transaction, the chief executive officer now owns 953,788 shares in the company, valued at approximately $14,297,282.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mani Mohindru sold 16,041 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $19.12, for a total transaction of $306,703.92. Following the transaction, the chief financial officer now owns 24,067 shares in the company, valued at approximately $460,161.04. The disclosure for this sale can be found here. Insiders have sold a total of 69,533 shares of company stock worth $1,211,110 in the last 90 days. 6.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Avondale Wealth Management boosted its holdings in shares of Cara Therapeutics by 50.0% in the 4th quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cara Therapeutics by 36.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 964 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Cara Therapeutics by 40.0% in the 4th quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 1,400 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Cara Therapeutics by 36.2% in the 3rd quarter. Legal & General Group Plc now owns 5,538 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,472 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Cara Therapeutics in the 3rd quarter valued at $138,000. 61.33% of the stock is currently 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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