Cara Therapeutics, Inc. (NASDAQ:CARA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $17.00.

CARA has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Cara Therapeutics from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 7th. Bank of America lowered Cara Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $13.00 to $6.00 in a research report on Tuesday, March 7th. Piper Sandler dropped their target price on shares of Cara Therapeutics from $25.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, March 7th. StockNews.com started coverage on Cara Therapeutics in a report on Thursday. They set a “hold” rating for the company. Finally, Canaccord Genuity Group cut their price objective on shares of Cara Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th.

Cara Therapeutics Stock Up 0.3 %

Shares of CARA stock opened at $5.78 on Friday. The company has a market capitalization of $311.77 million, a P/E ratio of -3.64 and a beta of 0.99. Cara Therapeutics has a 12-month low of $5.43 and a 12-month high of $13.97. The firm has a 50-day moving average price of $10.17 and a 200 day moving average price of $10.33.

Insider Buying and Selling at Cara Therapeutics

In other Cara Therapeutics news, CEO Christopher Posner sold 4,191 shares of Cara Therapeutics stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $11.80, for a total transaction of $49,453.80. Following the completion of the transaction, 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 through the SEC website. In other news, CEO Christopher Posner sold 4,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $49,453.80. Following the completion of the sale, the chief executive officer now owns 182,370 shares in the company, valued at approximately $2,151,966. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joana Goncalves sold 2,992 shares of the business’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $11.27, for a total value of $33,719.84. Following the completion of the sale, the insider now owns 71,901 shares in the company, valued at $810,324.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,954 shares of company stock worth $147,171. Insiders own 3.20% of the company’s stock.

Institutional Trading of Cara Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. purchased a new stake in shares of Cara Therapeutics during the first quarter valued at approximately $256,000. Bank of New York Mellon Corp increased its position in shares of Cara Therapeutics by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 439,181 shares of the biopharmaceutical company’s stock valued at $5,337,000 after buying an additional 3,067 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Cara Therapeutics by 14.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,132 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 2,482 shares in the last quarter. Citigroup Inc. lifted its holdings in Cara Therapeutics by 5.7% in the first quarter. Citigroup Inc. now owns 86,370 shares of the biopharmaceutical company’s stock worth $1,049,000 after buying an additional 4,654 shares during the period. Finally, Natixis Advisors L.P. boosted its position in Cara Therapeutics by 101.2% during the 1st quarter. Natixis Advisors L.P. now owns 37,972 shares of the biopharmaceutical company’s stock valued at $461,000 after acquiring an additional 19,102 shares in the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.

Cara Therapeutics Company Profile

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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.