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

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. “

Several other equities analysts have also weighed in on CARA. BidaskClub upgraded shares of WSFS Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC increased their price objective on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Piper Jaffray Companies cut their price objective on shares of Illumina from $382.00 to $348.00 and set an “overweight” rating on the stock in a report on Tuesday. HC Wainwright increased their price objective on shares of Cara Therapeutics from $28.00 to $31.00 and gave the company an “average” rating in a report on Monday, July 22nd. Finally, Laidlaw increased their price objective on shares of Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.67.

Shares of CARA stock traded up $0.87 during trading hours on Tuesday, reaching $23.75. 1,047,800 shares of the company were exchanged, compared to its average volume of 765,008. Cara Therapeutics has a fifty-two week low of $12.19 and a fifty-two week high of $27.55. The business has a fifty day moving average price of $22.24. The firm has a market cap of $915.88 million, a P/E ratio of -11.53 and a beta of 2.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.40 and a current ratio of 3.40.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.01). Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%. The company had revenue of $4.38 million for the quarter, compared to analyst estimates of $5.14 million. As a group, sell-side analysts predict that Cara Therapeutics will post -2.38 EPS for the current year.

In other Cara Therapeutics news, insider Frederique Ph.D. Menzaghi sold 11,397 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $21.19, for a total value of $241,502.43. Following the completion of the sale, the insider now owns 160,279 shares of the company’s stock, valued at $3,396,312.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mani Mohindru sold 2,496 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $21.39, for a total transaction of $53,389.44. Following the completion of the sale, the chief financial officer now directly owns 16,359 shares of the company’s stock, valued at approximately $349,919.01. The disclosure for this sale can be found here. Insiders sold 88,348 shares of company stock valued at $2,088,842 in the last ninety days. Insiders own 5.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. New York State Common Retirement Fund increased its stake in Cara Therapeutics by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 30,700 shares of the biopharmaceutical company’s stock valued at $399,000 after purchasing an additional 600 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Cara Therapeutics by 5.9% in the second quarter. Commonwealth Equity Services LLC now owns 14,557 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 814 shares in the last quarter. Rathbone Brothers plc grew its position in Cara Therapeutics by 6.3% in the first quarter. Rathbone Brothers plc now owns 17,000 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 1,000 shares in the last quarter. California Public Employees Retirement System grew its position in Cara Therapeutics by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 86,798 shares of the biopharmaceutical company’s stock valued at $1,128,000 after purchasing an additional 1,198 shares in the last quarter. Finally, TCG Advisors LP bought a new position in Cara Therapeutics in the first quarter valued at $30,000. 56.17% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics Company Profile

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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