Scotiabank Trims Cara Therapeutics, Inc. (CARA) Target Price to $31.00
Cara Therapeutics, Inc. (NASDAQ:CARA) had its price target lowered by Scotiabank from $32.00 to $31.00 in a research note issued to investors on Thursday morning, StockTargetPrices.com reports. Scotiabank currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other research firms also recently weighed in on CARA. Needham & Company LLC reaffirmed a buy rating and set a $23.00 price target on shares of Cara Therapeutics in a research note on Friday, June 30th. HC Wainwright reaffirmed a buy rating and set a $30.00 target price on shares of Cara Therapeutics in a research report on Friday, June 30th. Laidlaw lowered their target price on Cara Therapeutics from $35.00 to $30.00 and set a buy rating on the stock in a research report on Friday, June 30th. Stifel Nicolaus reiterated a buy rating and issued a $20.00 target price (down from $24.00) on shares of Cara Therapeutics in a report on Friday, June 30th. Finally, Vetr cut Cara Therapeutics from a strong-buy rating to a buy rating and set a $21.73 target price on the stock. in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $25.43.
Cara Therapeutics (NASDAQ:CARA) opened at 13.69 on Thursday. The stock’s 50 day moving average is $13.67 and its 200-day moving average is $16.08. Cara Therapeutics has a 12 month low of $5.85 and a 12 month high of $28.50. The company’s market capitalization is $446.03 million.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.32. During the same quarter last year, the firm earned ($0.48) earnings per share. Cara Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, analysts expect that Cara Therapeutics will post ($1.78) EPS for the current year.
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In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the transaction, the vice president now directly owns 120,000 shares of the company’s stock, valued at $1,800,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Derek T. Chalmers sold 25,000 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.05, for a total value of $376,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,107,292 shares of the company’s stock, valued at $16,664,744.60. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new stake in shares of Cara Therapeutics during the 2nd quarter valued at $1,542,000. California State Teachers Retirement System lifted its holdings in Cara Therapeutics by 14.5% during the 2nd quarter. California State Teachers Retirement System now owns 47,354 shares of the biopharmaceutical company’s stock worth $729,000 after purchasing an additional 6,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cara Therapeutics by 18.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,280 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 3,353 shares in the last quarter. State Street Corp boosted its stake in Cara Therapeutics by 686.2% in the 2nd quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock worth $49,943,000 after purchasing an additional 2,832,304 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Cara Therapeutics in the 2nd quarter worth about $448,000. Institutional investors own 61.13% of the company’s stock.
About Cara Therapeutics
Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.
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