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

CARA has been the subject of several other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $35.00 price objective on shares of Cara Therapeutics in a report on Tuesday, December 3rd. HC Wainwright reissued a buy rating and set a $30.00 price target on shares of Cara Therapeutics in a report on Tuesday, December 3rd. Zacks Investment Research raised Cara Therapeutics from a sell rating to a hold rating in a report on Tuesday, January 14th. Cantor Fitzgerald boosted their price target on Cara Therapeutics from $29.00 to $33.00 in a report on Wednesday, December 4th. Finally, ValuEngine lowered Cara Therapeutics from a strong-buy rating to a buy rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Cara Therapeutics has an average rating of Buy and a consensus target price of $31.14.

Shares of NASDAQ:CARA opened at $16.87 on Friday. The stock has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $20.75. The stock has a market capitalization of $706.53 million, a price-to-earnings ratio of -7.03 and a beta of 2.18. Cara Therapeutics has a 12-month low of $14.10 and a 12-month high of $27.55. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.02.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.15). The company had revenue of $5.79 million for the quarter, compared to analysts’ expectations of $5.56 million. Cara Therapeutics had a negative net margin of 470.70% and a negative return on equity of 70.35%. As a group, equities research analysts predict that Cara Therapeutics will post -2.54 EPS for the current year.

In other news, SVP Frederique Ph.D. Menzaghi sold 4,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $19.91, for a total value of $79,640.00. Following the transaction, the senior vice president now directly owns 63,886 shares in the company, valued at $1,271,970.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Derek T. Chalmers sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $20.79, for a total value of $103,950.00. Following the completion of the transaction, the chief executive officer now owns 928,468 shares in the company, valued at $19,302,849.72. The disclosure for this sale can be found here. Insiders sold 55,934 shares of company stock worth $1,089,940 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in CARA. First Manhattan Co. lifted its position in shares of Cara Therapeutics by 97.5% in the second quarter. First Manhattan Co. now owns 1,938,188 shares of the biopharmaceutical company’s stock valued at $41,671,000 after acquiring an additional 956,968 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cara Therapeutics by 10.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,800,339 shares of the biopharmaceutical company’s stock valued at $60,207,000 after acquiring an additional 266,749 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cara Therapeutics in the third quarter valued at about $2,780,000. Nuveen Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the second quarter worth about $2,798,000. Finally, BlackRock Inc. lifted its position in shares of Cara Therapeutics by 3.6% in the second quarter. BlackRock Inc. now owns 2,864,551 shares of the biopharmaceutical company’s stock worth $61,587,000 after buying an additional 98,241 shares in the last quarter. Institutional investors and hedge funds own 76.08% of the company’s stock.

About Cara Therapeutics

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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