Cara Therapeutics, Inc. (NASDAQ:CARA) Receives Average Recommendation of “Hold” from Analysts

Cara Therapeutics, Inc. (NASDAQ:CARA) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $2.32.

A number of research analysts have weighed in on CARA shares. 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 research note on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Canaccord Genuity Group lowered 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 research note on Thursday, June 13th. Stifel Nicolaus lowered 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 research note on Thursday, June 13th. Finally, HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th.

Institutional Trading of Cara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CARA. Mackenzie Financial Corp increased its holdings in Cara Therapeutics by 71.2% during the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 22,329 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in Cara Therapeutics during the first quarter worth about $86,000. Federated Hermes Inc. increased its holdings 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 buying an additional 28,365 shares during the last quarter. Rosalind Advisors Inc. purchased a new stake in Cara Therapeutics during the first quarter worth about $1,409,000. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after buying an additional 120,660 shares during the last quarter. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Stock Up 6.3 %

Shares of NASDAQ CARA opened at $0.37 on Tuesday. The firm has a market cap of $20.22 million, a PE ratio of -0.16 and a beta of 0.69. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $2.87. The company’s fifty day simple moving average is $0.33 and its 200 day simple moving average is $0.61.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) 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 the consensus estimate of $1.26 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. On average, equities analysts predict that Cara Therapeutics will post -1.28 earnings per share for the current year.

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.