Cara Therapeutics (NASDAQ:CARA) Downgraded by Stifel Nicolaus to “Hold”

Cara Therapeutics (NASDAQ:CARA) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $1.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $6.00. Stifel Nicolaus’ price objective indicates a potential upside of 185.71% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. HC Wainwright downgraded Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Needham & Company LLC downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. StockNews.com downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Canaccord Genuity Group downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.00 to $1.00 in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on Cara Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, Cara Therapeutics has a consensus rating of “Hold” and an average target price of $3.93.

Cara Therapeutics Price Performance

Shares of NASDAQ:CARA opened at $0.35 on Thursday. The company has a market capitalization of $19.14 million, a PE ratio of -0.16 and a beta of 0.79. The business has a fifty day moving average price of $0.71 and a two-hundred day moving average price of $0.76. Cara Therapeutics has a 1 year low of $0.34 and a 1 year high of $4.45.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). The business had revenue of $2.14 million during the quarter, compared to the consensus estimate of $2.25 million. Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. Sell-side analysts anticipate that Cara Therapeutics will post -1.23 earnings per share for the current year.

Institutional Trading of Cara Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings in Cara Therapeutics by 71.2% during the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 22,329 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the 1st quarter valued at about $86,000. Algert Global LLC purchased a new stake in shares of Cara Therapeutics in the 3rd quarter valued at about $99,000. Assenagon Asset Management S.A. raised its holdings in shares of Cara Therapeutics by 155.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 102,230 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the 3rd quarter valued at about $383,000. Hedge funds and other institutional investors own 44.66% of the company’s stock.

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.