Cara Therapeutics Inc (CARA) is Reiterated by Needham to Buy, Lowers Price Target to $ 23

Cara Therapeutics Inc (CARA) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 23 from a previous price target of $27 . Needham advised their investors in a research report released on Aug 8, 2016.

On the company’s financial health, Cara Therapeutics Inc reported $-0.48 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.41. The company had revenue of $.08 million for the quarter, compared to analysts expectations of $.13 million. The company’s revenue was down -91.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.25 EPS.

Cara Therapeutics Inc opened for trading at $5.67 and hit $6.26 on the upside on Friday, eventually ending the session at $5.99, with a gain of 0.84% or 0.05 points. The heightened volatility saw the trading volume jump to 23,60,653 shares. Company has a market cap of $163 M.

In a different news, on Apr 20, 2016, Frederique Ph.d. Menzaghi (VP-Research & Development) sold 6,000 shares at $9.00 per share price. According to the SEC, on Jan 27, 2016, Michael E Lewis (Chief Scientific Advisor) sold 7,262 shares at $10.93 per share price. On Jan 12, 2016, Dean Slagel (director) sold 44,000 shares at $17.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Its 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. CR845 is a peripherally-acting kappa opioid receptor agonist for the treatment of both acute and chronic pain. I.V. CR845 is an injectable version of its peripheral kappa opioid receptor agonist which is designed to provide pain relief without stimulating mu opioid receptors. CR701 is a peripherally-restricted mixed-CB1/CB2 receptor agonist that interacts with these cannabinoid receptor subtypes with no off-target activities.

Cara Therapeutics Inc

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