StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA – Get Free Report) 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.
Read Our Latest Analysis on Cara Therapeutics
Cara Therapeutics Price Performance
Cara Therapeutics (NASDAQ:CARA – Get Free Report) 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.
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