Cara Therapeutics (NASDAQ:CARA) Receives New Coverage from Analysts at StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating 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 report on Thursday, June 13th. Canaccord Genuity Group lowered Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. HC Wainwright lowered Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. Finally, Stifel Nicolaus downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $1.00 in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.32.

Cara Therapeutics Price Performance

CARA opened at $0.31 on Tuesday. The stock’s 50 day simple moving average is $0.34 and its 200 day simple moving average is $0.59. The firm has a market cap of $17.00 million, a price-to-earnings ratio of -0.14 and a beta of 0.70. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.48.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. As a group, sell-side analysts anticipate that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Hedge funds have recently made changes to their positions in the company. Marquette Asset Management LLC purchased a new position in Cara Therapeutics during the 1st quarter valued at about $86,000. Disciplined Growth Investors Inc. MN increased its stake in shares of 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 valued at $499,000 after purchasing an additional 120,660 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in shares of Cara Therapeutics during the first quarter valued at approximately $1,409,000. 44.66% of the stock is currently owned by institutional investors.

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.