Cara Therapeutics (NASDAQ:CARA) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cara Therapeutics (NASDAQ:CARA) in a report published on Thursday, October 17th, AnalystRatings.com reports. Needham & Company LLC currently has a $35.00 price target on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the stock. HC Wainwright restated a buy rating and set a $30.00 price target (down from $31.00) on shares of Cara Therapeutics in a report on Monday, August 12th. Zacks Investment Research cut shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Tuesday, October 8th. BidaskClub cut shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Tuesday, October 1st. Finally, Piper Jaffray Companies lifted their target price on shares of Cara Therapeutics from $35.00 to $39.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $26.93.

CARA traded up $0.50 during midday trading on Thursday, hitting $21.18. 602,900 shares of the company were exchanged, compared to its average volume of 710,113. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $830.18 million, a price-to-earnings ratio of -10.28 and a beta of 2.23. The company’s 50 day simple moving average is $19.73 and its 200 day simple moving average is $21.14. Cara Therapeutics has a 1-year low of $12.19 and a 1-year high of $27.55.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.15). The company had revenue of $5.79 million for the quarter, compared to analyst estimates of $5.56 million. Cara Therapeutics had a negative return on equity of 84.91% and a negative net margin of 470.70%. On average, equities analysts anticipate that Cara Therapeutics will post -2.32 EPS for the current year.

In other news, CEO Derek T. Chalmers sold 5,000 shares of Cara Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $20.79, for a total value of $103,950.00. Following the transaction, the chief executive officer now owns 928,468 shares of the company’s stock, valued at $19,302,849.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey L. Ives sold 2,500 shares of Cara Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $20.68, for a total transaction of $51,700.00. Following the completion of the transaction, the director now directly owns 8,500 shares in the company, valued at approximately $175,780. The disclosure for this sale can be found here. Insiders sold 63,500 shares of company stock valued at $1,325,470 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC bought a new position in shares of Cara Therapeutics in the second quarter valued at approximately $88,000. Russell Investments Group Ltd. bought a new position in Cara Therapeutics during the third quarter worth $110,000. Sfmg LLC bought a new position in Cara Therapeutics during the second quarter worth $200,000. Creative Planning bought a new position in Cara Therapeutics during the second quarter worth $207,000. Finally, AQR Capital Management LLC bought a new position in Cara Therapeutics during the second quarter worth $231,000. 64.88% of the stock is currently owned by 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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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