Cara Therapeutics (NASDAQ:CARA) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. Canaccord Genuity Group restated a “hold” rating and set a $1.00 price target (down previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. Finally, Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $1.00 in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.93.

Cara Therapeutics Price Performance

Shares of Cara Therapeutics stock opened at $0.26 on Friday. The firm has a fifty day moving average price of $0.61 and a 200 day moving average price of $0.70. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $3.45. The stock has a market cap of $14.11 million, a PE ratio of -0.11 and a beta of 0.79.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.18). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The business had revenue of $2.14 million for the quarter, compared to analysts’ expectations of $2.25 million. As a group, equities analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Cara Therapeutics

Institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its position in shares of Cara Therapeutics by 71.2% in the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 22,329 shares during the period. Marquette Asset Management LLC acquired a new position in Cara Therapeutics during the first quarter worth about $86,000. Algert Global LLC acquired a new position in Cara Therapeutics during the third quarter worth about $99,000. Assenagon Asset Management S.A. boosted its position in Cara Therapeutics by 155.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 102,230 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Cara Therapeutics by 3.5% during the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after acquiring an additional 28,365 shares during the last quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company's lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.