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.

WARNING: This report was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.thecerbatgem.com/2017/10/02/scotiabank-trims-cara-therapeutics-inc-cara-target-price-to-31-00.html.

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.

Stock Target Prices

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

Receive News & Stock Ratings for Cara Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics Inc. and related stocks with our FREE daily email newsletter.