Cara Therapeutics (NASDAQ:CARA) Reaches New 1-Year High at $24.37

Shares of Cara Therapeutics Inc (NASDAQ:CARA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $24.37 and last traded at $24.31, with a volume of 71786 shares trading hands. The stock had previously closed at $22.71.

A number of equities research analysts have issued reports on CARA shares. BidaskClub cut shares of YRC Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. HC Wainwright upped their price objective on shares of Cara Therapeutics from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Needham & Company LLC upped their price objective on shares of Cara Therapeutics from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Laidlaw upped their price objective on shares of Cara Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.31.

The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $917.43 million, a PE ratio of -11.79 and a beta of 2.25. The business has a 50-day moving average price of $20.51.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.01). Cara Therapeutics had a negative return on equity of 67.30% and a negative net margin of 443.71%. The business had revenue of $4.38 million during the quarter, compared to analyst estimates of $5.14 million. Equities research analysts predict that Cara Therapeutics Inc will post -2.38 earnings per share for the current year.

In other Cara Therapeutics news, insider Frederique Ph.D. Menzaghi sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.90, for a total transaction of $438,000.00. Following the sale, the insider now directly owns 128,882 shares of the company’s stock, valued at $2,822,515.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Derek T. Chalmers sold 5,528 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $21.42, for a total transaction of $118,409.76. Following the sale, the chief executive officer now directly owns 963,996 shares in the company, valued at $20,648,794.32. The disclosure for this sale can be found here. Insiders sold 41,921 shares of company stock valued at $905,677 in the last three months. Company insiders own 5.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Cara Therapeutics by 1.5% during the fourth quarter. BlackRock Inc. now owns 2,800,605 shares of the biopharmaceutical company’s stock worth $36,407,000 after buying an additional 42,487 shares during the last quarter. First Manhattan Co. grew its stake in Cara Therapeutics by 17.3% during the first quarter. First Manhattan Co. now owns 981,220 shares of the biopharmaceutical company’s stock worth $19,251,000 after buying an additional 144,578 shares during the last quarter. Geode Capital Management LLC grew its stake in Cara Therapeutics by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 368,306 shares of the biopharmaceutical company’s stock worth $4,787,000 after buying an additional 20,647 shares during the last quarter. Deutsche Bank AG grew its stake in Cara Therapeutics by 141.9% during the fourth quarter. Deutsche Bank AG now owns 304,177 shares of the biopharmaceutical company’s stock worth $3,953,000 after buying an additional 178,414 shares during the last quarter. Finally, Sphera Funds Management LTD. grew its stake in Cara Therapeutics by 18.8% during the fourth quarter. Sphera Funds Management LTD. now owns 303,930 shares of the biopharmaceutical company’s stock worth $3,951,000 after buying an additional 48,000 shares during the last quarter. 56.10% of the stock is currently owned by hedge funds and other institutional investors.

About Cara Therapeutics (NASDAQ:CARA)

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.

Recommended Story: What are the benefits of a balanced fund?

Receive News & Ratings for Cara Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cara Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.