Cara Therapeutics Inc. (CARA) Earns “Outperform” Rating from Scotiabank
Scotiabank reaffirmed their outperform rating on shares of Cara Therapeutics Inc. (NASDAQ:CARA) in a report released on Thursday, StockTargetPrices.com reports. Scotiabank currently has a $32.00 price target on the biopharmaceutical company’s stock.
Several other research analysts have also recently commented on CARA. Cantor Fitzgerald set a $24.00 price target on Cara Therapeutics and gave the company a buy rating in a research report on Sunday, November 6th. Zacks Investment Research raised Cara Therapeutics from a sell rating to a hold rating in a research report on Tuesday, November 1st. HC Wainwright set a $20.00 price target on Cara Therapeutics and gave the company a buy rating in a research report on Tuesday, November 22nd. CIBC reduced their price target on Cara Therapeutics from $29.00 to $28.00 in a research report on Friday, November 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 research report on Friday, August 5th. Ten research analysts have rated the stock with a buy rating, Cara Therapeutics presently has an average rating of Buy and an average price target of $22.41.
Shares of Cara Therapeutics (NASDAQ:CARA) opened at 9.22 on Thursday. Cara Therapeutics has a one year low of $4.26 and a one year high of $17.69. The firm’s market cap is $251.54 million. The stock’s 50 day moving average price is $8.58 and its 200 day moving average price is $6.66.
Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.05. During the same period last year, the firm earned ($0.19) EPS. On average, equities analysts anticipate that Cara Therapeutics will post ($1.78) earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Cara Therapeutics by 127.2% in the third quarter. Wells Fargo & Company MN now owns 12,007 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 6,722 shares during the period. ProShare Advisors LLC raised its position in shares of Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 444 shares during the period. KCG Holdings Inc. purchased a new position in shares of Cara Therapeutics during the third quarter worth $248,000. Teachers Advisors Inc. raised its position in shares of Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 101 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 13,987 shares during the period. Institutional investors own 46.08% of the company’s stock.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.
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