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 released on Monday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

CARA has been the topic of several other reports. Canaccord Genuity Group reissued a hold rating and set a $1.00 price target (down from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Canaccord Genuity Group cut shares of Cara Therapeutics from a buy rating to a hold rating and decreased their price target for the company from $10.00 to $1.00 in a research note on Thursday, June 13th. Stifel Nicolaus cut shares of Cara Therapeutics from a buy rating to a hold rating and decreased their price target for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. HC Wainwright cut shares of Cara Therapeutics from a buy rating to a neutral rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC cut shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $3.93.

Cara Therapeutics Trading Up 28.0 %

Shares of Cara Therapeutics stock opened at $0.37 on Monday. The stock has a market capitalization of $20.01 million, a price-to-earnings ratio of -0.16 and a beta of 0.69. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $3.45. The firm’s 50-day moving average price is $0.53 and its two-hundred day moving average price is $0.66.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.18). The firm had revenue of $2.14 million for the quarter, compared to the consensus estimate of $2.25 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. As a group, equities research analysts predict that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Cara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marquette Asset Management LLC bought a new stake in shares of Cara Therapeutics during the 1st quarter worth about $86,000. Rosalind Advisors Inc. acquired a new stake in Cara Therapeutics in the 1st quarter worth about $1,409,000. Federated Hermes Inc. raised its stake in Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after purchasing an additional 28,365 shares in the last quarter. Mackenzie Financial Corp raised its stake in Cara Therapeutics by 71.2% in 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. Finally, Assenagon Asset Management S.A. raised its stake in 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 worth $125,000 after purchasing an additional 102,230 shares in the last quarter. 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.