Rating Action: Cara Therapeutics (NASDAQ:CARA) Outperform Rating Reconfirmed by Scotia Capital; With $32.00 Target

November 24, 2016 - By Michael Collier

Rating Action: Cara Therapeutics (NASDAQ:CARA) Outperform Rating Reconfirmed by Scotia Capital; With $32.00 Target

Cara Therapeutics (NASDAQ:CARA) Rating

The company have set PT of $32.00 on Cara Therapeutics (NASDAQ:CARA) shares. This is 212.81% from the previous close. In analysts note revealed to investors on Thursday morning, Scotia Capital restate their Outperform rating on shares of CARA.

Cara Therapeutics Inc (NASDAQ:CARA) Ratings Coverage

Out of 5 analysts covering Cara Therapeutics (NASDAQ:CARA), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $32 is the highest target while $20 is the lowest. The $27.40 average target is 167.84% above today’s ($10.23) stock price. Cara Therapeutics has been the topic of 6 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Cantor Fitzgerald initiated Cara Therapeutics Inc (NASDAQ:CARA) on Wednesday, November 4 with “Buy” rating. On Friday, July 24 the stock rating was maintained by Needham with “Buy”. H.C. Wainwright initiated the stock with “Buy” rating in Thursday, October 13 report.

The stock increased 4.39% or $0.43 on November 23, hitting $10.23. About 2.06M shares traded hands or 16.38% up from the average. Cara Therapeutics Inc (NASDAQ:CARA) has risen 54.30% since April 22, 2016 and is uptrending. It has outperformed by 48.89% the S&P500.

Analysts await Cara Therapeutics Inc (NASDAQ:CARA) to report earnings on March, 9. They expect $-0.51 earnings per share, down 45.71% or $0.16 from last year’s $-0.35 per share. After $-0.42 actual earnings per share reported by Cara Therapeutics Inc for the previous quarter, Wall Street now forecasts 21.43% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.83 in 2016 Q2. Its up 1.13, from 0.7 in 2016Q1. The ratio is positive, as 27 funds sold all Cara Therapeutics Inc shares owned while 20 reduced positions. 6 funds bought stakes while 27 increased positions. They now own 13.15 million shares or 19.13% less from 16.26 million shares in 2016Q1.

Goldman Sachs Group holds 28,157 shares or 0% of its portfolio. Voya Mngmt Ltd Liability Corp reported 10,670 shares or 0% of all its holdings. Legal And General Group Pcl has 0% invested in the company for 3,710 shares. Franklin Res has 0% invested in the company for 611,400 shares. Moreover, Millennium Mngmt Lc has 0% invested in Cara Therapeutics Inc (NASDAQ:CARA) for 441,620 shares. Bnp Paribas Arbitrage Sa accumulated 0% or 789 shares. Chesapeake Prtn Md reported 960,508 shares or 0.69% of all its holdings. Alliancebernstein Ltd Partnership last reported 20,300 shares in the company. Vanguard Gru holds 670,465 shares or 0% of its portfolio. Highbridge Capital Lc accumulated 51,926 shares or 0% of the stock. Schwab Charles Inv holds 0% of its portfolio in Cara Therapeutics Inc (NASDAQ:CARA) for 27,617 shares. California State Teachers Retirement System has invested 0% of its portfolio in Cara Therapeutics Inc (NASDAQ:CARA). Rhumbline Advisers reported 33,028 shares or 0% of all its holdings. State Street reported 321,834 shares or 0% of all its holdings. Moreover, Retail Bank Of America De has 0% invested in Cara Therapeutics Inc (NASDAQ:CARA) for 13,463 shares.

Cara Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $242.27 million. The Firm is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It currently has negative earnings. The Firm is engaged in developing product candidates that focus on the body’s peripheral nervous system.

According to Zacks Investment Research, “Cara Therapeutics, Inc. is a biopharmaceutical company. The company is focused on developing and commercializing new chemical entities designed to alleviate pain. Cara Therapeutics, Inc. is based in Shelton, United States.”

CARA Company Profile

Cara Therapeutics, Inc., incorporated on July 2, 2004, is a clinical-stage biopharmaceutical company. The Firm is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Firm operates through the activities related to the discovery and development of novel therapeutics to treat serious medical conditions, including pain and pruritus segment. The Firm is engaged in developing product candidates that focus on the body’s peripheral nervous system. The Company’s product candidate pipeline includes I.V. CR845 for acute pain; I.V. CR845 for uremic pruritus; Oral CR845 for acute and chronic pain, and CR701 for neuropathic and inflammatory pain.

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