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

Cara Therapeutics, Inc. (NASDAQ:CARA) has received a consensus rating of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.32.

Several equities analysts have commented on CARA shares. HC Wainwright downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. Canaccord Genuity Group restated a “hold” rating and issued a $1.00 target price (down previously from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Canaccord Genuity Group downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC cut Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, Stifel Nicolaus downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $6.00 to $1.00 in a research note on Thursday, June 13th.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently added to or reduced their stakes in CARA. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics in the first quarter valued at approximately $1,409,000. Disciplined Growth Investors Inc. MN increased its stake 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 period. Finally, Marquette Asset Management LLC bought a new position in Cara Therapeutics during the 1st quarter worth approximately $86,000. 44.66% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA opened at $0.30 on Friday. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.87. The business has a 50-day moving average of $0.34 and a 200-day moving average of $0.55. The company has a market capitalization of $16.51 million, a price-to-earnings ratio of -0.13 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly 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 firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.26 million. Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. Research analysts expect that Cara Therapeutics will post -1.24 EPS for the current fiscal 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.