Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $10.06, but opened at $9.75. Cara Therapeutics shares last traded at $10.35, with a volume of 2,570 shares changing hands. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.13). During the same period last year, the firm earned $1.59 earnings per share.
CARA has been the subject of a number of research reports. TheStreet upgraded Cara Therapeutics from a “d+” rating to a “c” rating in a report on Friday, November 12th. Zacks Investment Research downgraded shares of Cara Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cara Therapeutics has an average rating of “Buy” and a consensus price target of $22.50.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Cara Therapeutics by 1.3% in the 4th quarter. BlackRock Inc. now owns 7,199,126 shares of the biopharmaceutical company’s stock worth $87,683,000 after acquiring an additional 93,737 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cara Therapeutics by 21.8% in the second quarter. Vanguard Group Inc. now owns 2,745,097 shares of the biopharmaceutical company’s stock valued at $39,172,000 after purchasing an additional 491,850 shares during the period. State Street Corp grew its holdings in Cara Therapeutics by 75.7% during the 2nd quarter. State Street Corp now owns 1,617,778 shares of the biopharmaceutical company’s stock valued at $23,086,000 after purchasing an additional 696,893 shares in the last quarter. Kingdon Capital Management L.L.C. grew its holdings in Cara Therapeutics by 23.4% during the 4th quarter. Kingdon Capital Management L.L.C. now owns 883,000 shares of the biopharmaceutical company’s stock valued at $10,755,000 after purchasing an additional 167,316 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cara Therapeutics by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 841,028 shares of the biopharmaceutical company’s stock worth $10,243,000 after buying an additional 3,872 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.
The business’s 50-day simple moving average is $11.29 and its two-hundred day simple moving average is $13.30. The company has a market capitalization of $592.33 million, a PE ratio of 22.61 and a beta of 1.05.
Cara Therapeutics Company Profile (NASDAQ:CARA)
CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.