Trade Report: The Cara Therapeutics Inc. (CARA) Coverage Initiated by Analysts at HC Wainwright

The Cara Therapeutics Inc. (CARA) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Cara Therapeutics Inc. (NASDAQ:CARA) in a research note published on Thursday morning. The firm issued a buy rating and a $20.00 price objective on the biopharmaceutical company’s stock.

CARA has been the subject of a number of other reports. Piper Jaffray Cos. reaffirmed an overweight rating and set a $16.00 price objective on shares of Cara Therapeutics in a research report on Friday, September 23rd. Zacks Investment Research raised Cara Therapeutics from a hold rating to a buy rating and set a $5.50 price target for the company in a report on Wednesday, July 6th. Needham & Company LLC reduced their price target on Cara Therapeutics from $27.00 to $23.00 and set a buy rating for the company in a report on Sunday, August 7th. Cantor Fitzgerald reissued a buy rating on shares of Cara Therapeutics in a report on Thursday, August 11th. Finally, Stifel Nicolaus reduced their price target on Cara Therapeutics from $25.00 to $24.00 and set a buy rating for the company in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $19.72.

Cara Therapeutics (NASDAQ:CARA) traded down 2.10% during mid-day trading on Thursday, hitting $7.92. The stock had a trading volume of 1,008,235 shares. The firm’s market cap is $216.07 million. The stock has a 50-day moving average price of $7.07 and a 200 day moving average price of $6.19. Cara Therapeutics has a 12-month low of $4.26 and a 12-month high of $18.12.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by $0.06. The business earned $0.08 million during the quarter, compared to the consensus estimate of $0.13 million. During the same period last year, the firm earned ($0.25) earnings per share. The company’s revenue for the quarter was down 91.0% compared to the same quarter last year. Equities analysts anticipate that Cara Therapeutics will post ($1.81) EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in CARA. ProShare Advisors LLC increased its position in Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 444 shares during the last quarter. Teachers Advisors Inc. increased its position in Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 101 shares during the last quarter. Rhumbline Advisers increased its position in Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 13,987 shares during the last quarter. California State Teachers Retirement System increased its position in Cara Therapeutics by 3.1% in the second quarter. California State Teachers Retirement System now owns 44,054 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 1,325 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Cara Therapeutics during the second quarter valued at $249,000. 48.67% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics Company Profile

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