Cara Therapeutics Inc (NASDAQ:CARA) gapped down before the market opened on Friday . The stock had previously closed at $21.66, but opened at $22.75. Cara Therapeutics shares last traded at $22.79, with a volume of 37,852 shares trading hands.
Several equities analysts have weighed in on the company. HC Wainwright raised their target price on Cara Therapeutics from $28.00 to $31.00 and gave the company an “average” rating in a report on Monday, July 22nd. BidaskClub lowered YY from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Laidlaw raised their price target on Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Needham & Company LLC raised their price target on Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.58.
The company’s 50-day moving average price is $22.07. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.04.
Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.01). The business had revenue of $4.38 million during the quarter, compared to analyst estimates of $5.14 million. Cara Therapeutics had a negative net margin of 443.71% and a negative return on equity of 67.30%. On average, equities research analysts predict that Cara Therapeutics Inc will post -2.38 EPS for the current fiscal year.
In other news, CEO Derek T. Chalmers sold 5,528 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $21.42, for a total value of $118,409.76. Following the sale, the chief executive officer now directly owns 963,996 shares of the company’s stock, valued at $20,648,794.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frederique Ph.D. Menzaghi sold 11,397 shares of the firm’s stock in a transaction dated 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 directly owns 160,279 shares in the company, valued at $3,396,312.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,348 shares of company stock worth $2,088,842. 5.80% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. TCG Advisors LP acquired a new stake in Cara Therapeutics during the first quarter worth about $30,000. Advisory Services Network LLC grew its position in Cara Therapeutics by 39,086.4% during the fourth quarter. Advisory Services Network LLC now owns 8,621 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,599 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Cara Therapeutics by 67,680.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,778 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 6,768 shares in the last quarter. Knott David M acquired a new stake in Cara Therapeutics during the first quarter worth about $140,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in Cara Therapeutics during the fourth quarter worth about $148,000. 56.17% of the stock is currently owned by institutional investors and hedge funds.
About Cara Therapeutics (NASDAQ:CARA)
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.