A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Cara Therapeutics from a hold rating to a sell rating in a report on Tuesday, October 8th. BidaskClub raised Cara Therapeutics from a hold rating to a buy rating in a research note on Saturday, November 23rd. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of Cara Therapeutics in a research note on Tuesday. Finally, Needham & Company LLC reiterated a buy rating and set a $35.00 price objective on shares of Cara Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Cara Therapeutics presently has a consensus rating of Buy and a consensus target price of $26.93.
CARA stock opened at $16.94 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.21 and a quick ratio of 4.21. The company’s 50 day simple moving average is $21.49 and its 200-day simple moving average is $21.62. Cara Therapeutics has a 12 month low of $12.19 and a 12 month high of $27.55. The firm has a market capitalization of $1.04 billion, a PE ratio of -8.22 and a beta of 2.30.
In related news, Director Jeffrey L. Ives sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $18.21, for a total transaction of $45,525.00. Following the transaction, the director now directly owns 8,500 shares in the company, valued at $154,785. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Derek T. Chalmers sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at $19,302,849.72. The disclosure for this sale can be found here. Insiders sold a total of 36,000 shares of company stock valued at $692,495 over the last ninety days. 5.80% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its holdings in Cara Therapeutics by 16.2% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,220 shares of the biopharmaceutical company’s stock valued at $242,000 after buying an additional 1,846 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Cara Therapeutics in the third quarter worth approximately $190,000. Barclays PLC boosted its position in shares of Cara Therapeutics by 91.6% in the third quarter. Barclays PLC now owns 58,527 shares of the biopharmaceutical company’s stock worth $1,070,000 after acquiring an additional 27,977 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Cara Therapeutics in the third quarter valued at approximately $2,780,000. Finally, Penserra Capital Management LLC purchased a new stake in Cara Therapeutics in the third quarter valued at approximately $180,000. 76.08% of the stock is currently owned by hedge funds and other institutional investors.
About Cara Therapeutics
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.
See Also: Buy-Side Analysts
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