Today’s Market Runner: Could Cara Therapeutics Inc Change Direction After Today’s Big Increase?

Today's Market Runner: Could Cara Therapeutics Inc Change Direction After Today's Big Increase?

The stock of Cara Therapeutics Inc (NASDAQ:CARA) is a huge mover today! About 1.41 million shares traded hands or 15.57% up from the average. Cara Therapeutics Inc (NASDAQ:CARA) has declined 13.89% since April 4, 2016 and is downtrending. It has underperformed by 14.98% the S&P500.
The move comes after 7 months positive chart setup for the $176.43M company. It was reported on Nov, 4 by Barchart.com. We have $17.39 PT which if reached, will make NASDAQ:CARA worth $257.59M more.

Analysts await Cara Therapeutics Inc (NASDAQ:CARA) to report earnings on November, 14. They expect $-0.47 EPS, down 147.37% or $0.28 from last year’s $-0.19 per share. After $-0.48 actual EPS reported by Cara Therapeutics Inc for the previous quarter, Wall Street now forecasts -2.08% EPS growth.

Cara Therapeutics Inc (NASDAQ:CARA) Ratings Coverage

Out of 4 analysts covering Cara Therapeutics (NASDAQ:CARA), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Cara Therapeutics has been the topic of 4 analyst reports since July 27, 2015 according to StockzIntelligence Inc. H.C. Wainwright initiated the shares of CARA in a report on Thursday, October 13 with “Buy” rating. The firm has “Buy” rating given on Wednesday, November 4 by Cantor Fitzgerald. The stock of Cara Therapeutics Inc (NASDAQ:CARA) earned “Buy” rating by Needham on Friday, July 24.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.7 in Q2 2016. Its down 0.32, from 1.02 in 2016Q1. The ratio dived, 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.
Voya Investment Management Llc, a Georgia-based fund reported 10,670 shares. Chesapeake Prns Mgmt Md has 960,508 shares for 0.69% of their US portfolio. California State Teachers Retirement holds 44,054 shares or 0% of its portfolio. Legal General Grp Plc reported 3,710 shares or 0% of all its holdings. Bnp Paribas Arbitrage Sa owns 789 shares or 0% of their US portfolio. The Massachusetts-based State Street Corp has invested 0% in Cara Therapeutics Inc (NASDAQ:CARA). Bogle Inv Mgmt Limited Partnership De holds 133,545 shares or 0.04% of its portfolio. Millennium Mgmt owns 441,620 shares or 0% of their US portfolio. The New York-based Gp has invested 0% in Cara Therapeutics Inc (NASDAQ:CARA). Wall Street Assocs has invested 0.37% of its portfolio in Cara Therapeutics Inc (NASDAQ:CARA). Savings Bank Of America Corp De, a North Carolina-based fund reported 13,463 shares. Moreover, Susquehanna Int Group Llp has 0% invested in Cara Therapeutics Inc (NASDAQ:CARA) for 22,188 shares. Morgan Stanley has 42,717 shares for 0% of their US portfolio. Rhumbline Advisers accumulated 33,028 shares or 0% of the stock. Barclays Plc holds 429 shares or 0% of its portfolio.

Another recent and important Cara Therapeutics Inc (NASDAQ:CARA) news was published by Globenewswire.com which published an article titled: “Cara Therapeutics Reports Third Quarter 2016 Financial Results” on November 03, 2016.

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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