Equities research analysts at Cantor Fitzgerald initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report issued on Friday, September 21st, MarketBeat reports. The firm set an “overweight” rating and a $27.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 39.61% from the company’s current price. Cantor Fitzgerald also issued estimates for Cara Therapeutics’ FY2018 earnings at ($2.11) EPS and FY2019 earnings at ($1.82) EPS.
A number of other brokerages have also recently issued reports on CARA. Zacks Investment Research raised Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 30th. BidaskClub raised Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, June 28th. Stifel Nicolaus lifted their price objective on Cara Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Laidlaw set a $26.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a report on Thursday, May 24th. Finally, HC Wainwright lifted their price objective on Cara Therapeutics from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 28th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Cara Therapeutics presently has a consensus rating of “Buy” and an average price target of $26.27.
Shares of NASDAQ CARA traded up $0.35 during midday trading on Friday, reaching $19.34. 583,911 shares of the company traded hands, compared to its average volume of 1,014,096. The stock has a market cap of $941.01 million, a PE ratio of -10.40 and a beta of 2.88. Cara Therapeutics has a 12 month low of $11.11 and a 12 month high of $24.30.
Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.02). The business had revenue of $2.87 million during the quarter, compared to the consensus estimate of $0.63 million. Equities analysts forecast that Cara Therapeutics will post -2.01 EPS for the current year.
In other news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $18.89, for a total value of $56,670.00. Following the completion of the sale, the senior vice president now directly owns 101,000 shares in the company, valued at $1,907,890. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $23.79, for a total value of $475,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,000 shares of company stock valued at $1,058,070. 6.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CARA. Exane Derivatives acquired a new stake in Cara Therapeutics in the second quarter worth about $138,000. BB&T Securities LLC acquired a new stake in Cara Therapeutics in the second quarter worth about $218,000. Rathbone Brothers plc acquired a new stake in Cara Therapeutics in the third quarter worth about $228,000. Raymond James & Associates acquired a new stake in Cara Therapeutics in the second quarter worth about $250,000. Finally, Commonwealth Equity Services LLC increased its position in Cara Therapeutics by 34.0% in the first quarter. Commonwealth Equity Services LLC now owns 23,206 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 5,889 shares during the period. Hedge funds and other institutional investors own 48.66% of the company’s stock.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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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