Cara Therapeutics (NASDAQ:CARA) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued to clients and investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

CARA has been the topic of several other reports. Stifel Nicolaus downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $1.00 in a report on Thursday, June 13th. HC Wainwright downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.00 price objective (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Needham & Company LLC downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, Canaccord Genuity Group downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $1.00 in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.32.

Cara Therapeutics Stock Performance

NASDAQ:CARA opened at $0.35 on Friday. The company has a market cap of $19.03 million, a PE ratio of -0.15 and a beta of 0.69. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $3.03. The company’s 50 day moving average is $0.32 and its two-hundred day moving average is $0.61.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. As a group, analysts expect that Cara Therapeutics will post -1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Cara Therapeutics

Several large investors have recently made changes to their positions in CARA. Mackenzie Financial Corp lifted its stake in shares of Cara Therapeutics by 71.2% in the 4th 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. Federated Hermes Inc. raised 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 period. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics in the first quarter valued at about $1,409,000. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics in the first quarter valued at about $86,000. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Cara Therapeutics by 6.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 120,660 shares during the last quarter. 44.66% of the stock is currently owned by institutional investors and hedge funds.

About Cara Therapeutics

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.