Cara Therapeutics, Inc. (NASDAQ:CARA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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. “

A number of other analysts have also recently weighed in on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price target on shares of Cara Therapeutics in a research report on Saturday, July 1st. Canaccord Genuity set a $25.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a report on Saturday, July 1st. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Cara Therapeutics in a report on Wednesday. Vetr cut Cara Therapeutics from a “strong-buy” rating to a “buy” rating and set a $21.73 price objective for the company. in a report on Wednesday, June 21st. Finally, Janney Montgomery Scott downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $21.00 in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.43.

Shares of Cara Therapeutics (CARA) traded down 0.86% during mid-day trading on Wednesday, reaching $13.80. 470,315 shares of the company traded hands. The stock’s 50 day moving average is $13.46 and its 200 day moving average is $15.87. Cara Therapeutics has a 52-week low of $5.85 and a 52-week high of $28.50. The stock’s market capitalization is $449.62 million.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.32. During the same period last year, the firm earned ($0.48) earnings per share. The company’s quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts anticipate that Cara Therapeutics will post ($1.78) earnings per share for the current year.

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In other Cara Therapeutics news, CEO Derek T. Chalmers sold 25,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $15.05, for a total transaction of $376,250.00. Following the transaction, the chief executive officer now owns 1,107,292 shares of the company’s stock, valued at approximately $16,664,744.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the company’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 transaction, the vice president now directly owns 120,000 shares in the company, valued at approximately $1,800,000. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Cara Therapeutics by 686.2% in the 2nd quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock valued at $49,943,000 after buying an additional 2,832,304 shares during the period. FMR LLC raised its position in shares of Cara Therapeutics by 27.7% during the second quarter. FMR LLC now owns 1,198,812 shares of the biopharmaceutical company’s stock worth $18,450,000 after acquiring an additional 260,036 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cara Therapeutics by 17.4% during the second quarter. Vanguard Group Inc. now owns 1,107,874 shares of the biopharmaceutical company’s stock worth $17,050,000 after acquiring an additional 164,247 shares during the last quarter. Chescapmanager LLC raised its position in shares of Cara Therapeutics by 30.4% during the first quarter. Chescapmanager LLC now owns 893,390 shares of the biopharmaceutical company’s stock worth $16,429,000 after acquiring an additional 208,223 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its position in shares of Cara Therapeutics by 376.3% during the second quarter. Balyasny Asset Management LLC now owns 525,000 shares of the biopharmaceutical company’s stock worth $8,080,000 after acquiring an additional 715,000 shares during the last quarter. Hedge funds and other 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.

Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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