Cara Therapeutics Inc (NASDAQ:CARA) – Piper Jaffray Companies boosted their FY2022 earnings estimates for shares of Cara Therapeutics in a research report issued to clients and investors on Tuesday, November 6th. Piper Jaffray Companies analyst D. Amsellem now forecasts that the biopharmaceutical company will post earnings per share of $1.05 for the year, up from their previous forecast of $1.04.
Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). The company had revenue of $5.06 million during the quarter, compared to analysts’ expectations of $4.72 million.
Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued a “buy” rating and issued a $27.00 price target on shares of Cara Therapeutics in a research note on Thursday, October 4th. Canaccord Genuity lifted their price target on Cara Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. BidaskClub raised Cara Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Jefferies Financial Group initiated coverage on Cara Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on Cara Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.11.
Shares of CARA opened at $19.67 on Thursday. Cara Therapeutics has a 1-year low of $11.46 and a 1-year high of $24.30.
In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.81, for a total transaction of $59,430.00. Following the completion of the sale, the senior vice president now directly owns 98,000 shares in the company, valued at approximately $1,941,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $23.79, for a total value of $475,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,484 shares of company stock valued at $2,044,195 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Cara Therapeutics by 23.1% during the 3rd quarter. BlackRock Inc. now owns 2,758,118 shares of the biopharmaceutical company’s stock valued at $66,055,000 after buying an additional 516,870 shares during the last quarter. Chescapmanager LLC lifted its holdings in shares of Cara Therapeutics by 10.6% during the 2nd quarter. Chescapmanager LLC now owns 1,164,431 shares of the biopharmaceutical company’s stock valued at $22,299,000 after buying an additional 111,498 shares during the last quarter. First Manhattan Co. lifted its holdings in shares of Cara Therapeutics by 205.9% during the 2nd quarter. First Manhattan Co. now owns 557,000 shares of the biopharmaceutical company’s stock valued at $10,666,000 after buying an additional 374,900 shares during the last quarter. Nexthera Capital LP lifted its holdings in shares of Cara Therapeutics by 24.1% during the 2nd quarter. Nexthera Capital LP now owns 435,800 shares of the biopharmaceutical company’s stock valued at $8,346,000 after buying an additional 84,750 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Cara Therapeutics during the 2nd quarter valued at about $6,682,000. Hedge funds and other institutional investors own 48.88% of the company’s stock.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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.
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