Cara Therapeutics (NASDAQ:CARA) Raised to “Buy” at Zacks Investment Research

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Cara Therapeutics (NASDAQ:CARA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $24.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 5.68% from the stock’s previous close.

According to Zacks, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States. “

Several other brokerages have also recently weighed in on CARA. Needham & Company LLC boosted their price target on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. HC Wainwright boosted their price target on shares of Cara Therapeutics from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. BidaskClub cut shares of YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Laidlaw boosted their price target on shares of Cara Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Cara Therapeutics presently has an average rating of “Buy” and an average price target of $25.31.

CARA traded up $0.27 during trading hours on Tuesday, hitting $22.71. The company’s stock had a trading volume of 39,191 shares, compared to its average volume of 700,685. The firm has a 50-day moving average of $20.33. Cara Therapeutics has a 12 month low of $12.19 and a 12 month high of $24.30. The firm has a market cap of $895.22 million, a PE ratio of -11.07 and a beta of 2.25. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.04.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%. The business had revenue of $4.38 million during the quarter, compared to the consensus estimate of $5.14 million. As a group, equities analysts predict that Cara Therapeutics will post -2.38 earnings per share for the current year.

In other Cara Therapeutics news, CFO Mani Mohindru sold 2,496 shares of Cara Therapeutics stock in a transaction on 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 transaction, the chief financial officer now directly owns 16,359 shares of the company’s stock, valued at $349,919.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederique Ph.D. Menzaghi sold 11,397 shares of Cara Therapeutics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $21.19, for a total transaction of $241,502.43. Following the transaction, the insider now directly owns 160,279 shares of the company’s stock, valued at $3,396,312.01. The disclosure for this sale can be found here. Insiders have sold 41,921 shares of company stock valued at $905,677 over the last ninety days. 5.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CARA. TCG Advisors LP purchased a new position in Cara Therapeutics during the first quarter worth $30,000. Captrust Financial Advisors boosted its stake in Cara Therapeutics by 40.0% during the fourth quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 1,400 shares during the period. Advisory Services Network LLC boosted its stake in Cara Therapeutics by 39,086.4% during the fourth quarter. Advisory Services Network LLC now owns 8,621 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,599 shares during the period. NumerixS Investment Technologies Inc purchased a new position in Cara Therapeutics during the fourth quarter worth $121,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Cara Therapeutics by 67,680.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,778 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 6,768 shares during the period. 56.10% of the stock is owned by institutional investors.

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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