Cara Therapeutics (NASDAQ:CARA) Trading Up 5.2%

Cara Therapeutics Inc (NASDAQ:CARA)’s stock price was up 5.2% on Thursday . The company traded as high as $21.17 and last traded at $21.15. Approximately 566,780 shares changed hands during trading, a decline of 20% from the average daily volume of 707,763 shares. The stock had previously closed at $20.10.

A number of analysts recently weighed in on CARA shares. Needham & Company LLC raised their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Zacks Investment Research cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 15th. BidaskClub cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, April 19th. HC Wainwright raised their target price on shares of Cara Therapeutics from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Laidlaw raised their target price on shares of Cara Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Cara Therapeutics has a consensus rating of “Buy” and an average target price of $24.67.

The firm has a market cap of $854.63 million, a PE ratio of -10.44 and a beta of 2.39. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $19.59.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.38 million during the quarter, compared to analyst estimates of $5.14 million. As a group, equities analysts forecast that Cara Therapeutics Inc will post -2.38 earnings per share for the current fiscal year.

In related news, CEO Derek T. Chalmers sold 5,528 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $21.42, for a total value of $118,409.76. Following the completion of the transaction, the chief executive officer now owns 963,996 shares of the company’s stock, valued at approximately $20,648,794.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederique Ph.D. Menzaghi sold 11,397 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 160,279 shares of the company’s stock, valued at approximately $3,396,312.01. The disclosure for this sale can be found here. Insiders sold a total of 19,421 shares of company stock valued at $413,302 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. TCG Advisors LP acquired a new position in Cara Therapeutics in the 1st quarter worth approximately $30,000. Captrust Financial Advisors lifted its position in Cara Therapeutics by 40.0% in the 4th 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 in the last quarter. Advisory Services Network LLC lifted its position in Cara Therapeutics by 39,086.4% in the 4th 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 in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Cara Therapeutics in the 4th quarter worth approximately $121,000. Finally, BNP Paribas Arbitrage SA lifted its position in Cara Therapeutics by 67,680.0% in the 1st 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 in the last quarter. 56.10% of the stock is owned by hedge funds and other institutional investors.

About Cara Therapeutics (NASDAQ:CARA)

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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