Cara Therapeutics (NASDAQ:CARA)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Wednesday. They presently have a $17.00 target price on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 33.12% from the company’s current price.
CARA has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cara Therapeutics in a research note on Wednesday, October 4th. Scotiabank upped their price objective on shares of Cara Therapeutics from $31.00 to $31.50 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Raymond James Financial increased their target price on shares of Cara Therapeutics from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 7th. Canaccord Genuity set a $25.00 target price on shares of Cara Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, ValuEngine lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $24.97.
Cara Therapeutics (NASDAQ CARA) traded down $0.75 during mid-day trading on Wednesday, reaching $12.77. 1,397,500 shares of the company were exchanged, compared to its average volume of 1,456,933. The firm has a market cap of $418.37, a PE ratio of -5.58 and a beta of 2.96. Cara Therapeutics has a twelve month low of $10.09 and a twelve month high of $28.50.
In other Cara Therapeutics news, CEO Derek T. Chalmers sold 16,000 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total transaction of $202,560.00. Following the transaction, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at $13,499,256.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cara Therapeutics by 17.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,107,874 shares of the biopharmaceutical company’s stock valued at $17,050,000 after buying an additional 164,247 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of Cara Therapeutics in the 2nd quarter worth about $448,000. C WorldWide Group Holding A S raised its position in shares of Cara Therapeutics by 76.6% in the 3rd quarter. C WorldWide Group Holding A S now owns 291,341 shares of the biopharmaceutical company’s stock worth $3,988,000 after purchasing an additional 126,330 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cara Therapeutics in the 3rd quarter worth about $451,000. Finally, Swiss National Bank purchased a new position in shares of Cara Therapeutics in the 2nd quarter worth about $651,000. Institutional investors and hedge funds own 58.64% 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.
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