Cara Therapeutics Inc (NASDAQ:CARA) Expected to Post Quarterly Sales of $5.56 Million

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Equities research analysts expect Cara Therapeutics Inc (NASDAQ:CARA) to post sales of $5.56 million for the current quarter, Zacks reports. Five analysts have made estimates for Cara Therapeutics’ earnings, with the highest sales estimate coming in at $6.00 million and the lowest estimate coming in at $5.25 million. Cara Therapeutics posted sales of $5.06 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Cara Therapeutics will report full-year sales of $20.79 million for the current financial year, with estimates ranging from $20.09 million to $23.09 million. For the next fiscal year, analysts forecast that the company will report sales of $20.86 million, with estimates ranging from $18.11 million to $25.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cara Therapeutics.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.03. Cara Therapeutics had a negative net margin of 420.97% and a negative return on equity of 68.36%. The business had revenue of $5.21 million for the quarter, compared to analysts’ expectations of $5.14 million.

A number of brokerages recently weighed in on CARA. HC Wainwright restated a “buy” rating and set a $30.00 price objective (down from $31.00) on shares of Cara Therapeutics in a research note on Monday, August 12th. Piper Jaffray Companies lifted their price objective on shares of Cara Therapeutics from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. BidaskClub raised Cara Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st. Needham & Company LLC lifted their target price on Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research lowered Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.94.

In related news, SVP Frederique Ph.D. Menzaghi sold 20,000 shares of Cara Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $23.24, for a total value of $464,800.00. Following the transaction, the senior vice president now owns 99,886 shares of the company’s stock, valued at approximately $2,321,350.64. 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 2,496 shares of Cara Therapeutics stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $21.39, for a total value of $53,389.44. Following the completion of the transaction, the chief financial officer now directly owns 16,359 shares in the company, valued at approximately $349,919.01. The disclosure for this sale can be found here. Insiders sold a total of 120,848 shares of company stock worth $2,844,442 in the last three months. 5.80% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Cara Therapeutics by 3.6% during the 2nd quarter. BlackRock Inc. now owns 2,864,551 shares of the biopharmaceutical company’s stock valued at $61,587,000 after acquiring an additional 98,241 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cara Therapeutics by 10.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,800,339 shares of the biopharmaceutical company’s stock valued at $60,207,000 after acquiring an additional 266,749 shares in the last quarter. First Manhattan Co. grew its stake in Cara Therapeutics by 97.5% during the 2nd quarter. First Manhattan Co. now owns 1,938,188 shares of the biopharmaceutical company’s stock valued at $41,671,000 after acquiring an additional 956,968 shares in the last quarter. Vanguard Group Inc. grew its stake in Cara Therapeutics by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,779,452 shares of the biopharmaceutical company’s stock valued at $38,258,000 after acquiring an additional 13,417 shares in the last quarter. Finally, ETF Managers Group LLC purchased a new position in Cara Therapeutics during the 2nd quarter valued at about $20,490,000. 58.03% of the stock is currently owned by institutional investors.

Shares of NASDAQ CARA traded down $0.43 during midday trading on Tuesday, reaching $22.53. 23,181 shares of the company traded hands, compared to its average volume of 708,839. Cara Therapeutics has a 52 week low of $12.19 and a 52 week high of $27.55. The stock has a 50-day moving average price of $23.67 and a 200 day moving average price of $20.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 3.11. The company has a market cap of $912.66 million, a price-to-earnings ratio of -10.89 and a beta of 2.18.

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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Earnings History and Estimates for Cara Therapeutics (NASDAQ:CARA)

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