Research Analysts Issue Forecasts for Cara Therapeutics, Inc.’s Q1 2023 Earnings (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for Cara Therapeutics in a research report issued to clients and investors on Tuesday, March 7th. Jefferies Financial Group analyst C. Howerton expects that the biopharmaceutical company will post earnings of ($0.47) per share for the quarter. The consensus estimate for Cara Therapeutics’ current full-year earnings is ($0.65) per share. Jefferies Financial Group also issued estimates for Cara Therapeutics’ Q2 2023 earnings at ($0.44) EPS, Q3 2023 earnings at ($0.23) EPS and Q4 2023 earnings at ($0.16) EPS.

CARA has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on Cara Therapeutics from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday. HC Wainwright lowered their price objective on Cara Therapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. Canaccord Genuity Group lowered their price objective on Cara Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America lowered Cara Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $13.00 to $6.00 in a research report on Tuesday. Finally, Piper Sandler lowered their price objective on Cara Therapeutics from $25.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Cara Therapeutics Stock Down 4.2 %

Cara Therapeutics stock opened at $6.41 on Wednesday. The stock has a 50-day simple moving average of $10.78 and a 200 day simple moving average of $10.54. Cara Therapeutics has a 12-month low of $6.11 and a 12-month high of $13.97. The stock has a market capitalization of $344.41 million, a price-to-earnings ratio of -4.03 and a beta of 0.99.

Insider Transactions at Cara Therapeutics

In other Cara Therapeutics news, CEO Christopher Posner sold 4,191 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $11.80, for a total value of $49,453.80. Following the sale, the chief executive officer now owns 182,370 shares in the company, valued at approximately $2,151,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cara Therapeutics news, CEO Christopher Posner sold 4,191 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $11.80, for a total value of $49,453.80. Following the transaction, the chief executive officer now directly owns 182,370 shares of the company’s stock, valued at approximately $2,151,966. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Frederique Ph.D. Menzaghi sold 3,506 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $11.27, for a total value of $39,512.62. Following the sale, the senior vice president now directly owns 166,275 shares in the company, valued at $1,873,919.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,954 shares of company stock worth $147,171. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Cara Therapeutics

Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Cara Therapeutics by 3.1% during the 3rd quarter. BlackRock Inc. now owns 7,582,294 shares of the biopharmaceutical company’s stock worth $70,972,000 after buying an additional 229,507 shares during the last quarter. Vanguard Group Inc. raised its position in Cara Therapeutics by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,307,851 shares of the biopharmaceutical company’s stock valued at $30,962,000 after purchasing an additional 40,197 shares during the last quarter. Bain Capital Life Sciences Investors LLC bought a new position in Cara Therapeutics in the second quarter valued at about $24,171,000. State Street Corp raised its position in Cara Therapeutics by 16.3% in the second quarter. State Street Corp now owns 1,954,546 shares of the biopharmaceutical company’s stock valued at $17,845,000 after purchasing an additional 273,947 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Cara Therapeutics by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 857,335 shares of the biopharmaceutical company’s stock valued at $9,207,000 after purchasing an additional 37,161 shares during the last quarter. 69.26% of the stock is owned by institutional investors and hedge funds.

About Cara Therapeutics

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CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.