BidaskClub upgraded shares of Cara Therapeutics (NASDAQ:CARA) from a sell rating to a hold rating in a research note issued to investors on Saturday.

CARA has been the topic of a number of other reports. Scotiabank upped their target price on Cara Therapeutics from $31.00 to $31.50 and gave the stock an outperform rating in a research report on Tuesday, October 17th. Zacks Investment Research raised Cara Therapeutics from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Wednesday, August 30th. ValuEngine lowered Cara Therapeutics from a hold rating to a sell rating in a research report on Wednesday, September 27th. Raymond James Financial upped their target price on Cara Therapeutics from $25.00 to $26.00 and gave the stock a market perform rating in a research report on Tuesday, November 7th. Finally, HC Wainwright reissued a buy rating and issued a $30.00 price target on shares of Cara Therapeutics in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Cara Therapeutics presently has an average rating of Buy and an average price target of $25.17.

Shares of Cara Therapeutics (NASDAQ CARA) traded up $0.33 during trading hours on Friday, hitting $12.78. The stock had a trading volume of 1,030,832 shares, compared to its average volume of 734,726. Cara Therapeutics has a one year low of $8.62 and a one year high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). During the same period in the prior year, the business earned ($0.42) earnings per share. research analysts predict that Cara Therapeutics will post -1.84 EPS for the current fiscal year.

In related news, CEO Derek T. Chalmers sold 16,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total value of $202,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at approximately $13,499,256.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in shares of Cara Therapeutics by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 678 shares during the last quarter. UBS Group AG increased its position in shares of Cara Therapeutics by 16.9% during the 1st quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 1,528 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Cara Therapeutics by 15.4% during the 2nd quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 1,646 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $328,000 after purchasing an additional 3,353 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Cara Therapeutics by 25.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 4,275 shares during the last quarter. 58.80% of the stock is owned by institutional investors and hedge funds.

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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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