Cara Therapeutics, Inc. (NASDAQ:CARA) Given Average Rating of “Hold” by Brokerages

Cara Therapeutics, Inc. (NASDAQ:CARA) has received a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $2.32.

Several equities analysts recently issued reports on the company. Canaccord Genuity Group cut Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $1.00 in a report on Thursday, June 13th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.00 price target (down previously from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Stifel Nicolaus cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Finally, StockNews.com initiated coverage on shares of Cara Therapeutics in a research report on Thursday. They issued a “sell” rating on the stock.

Cara Therapeutics Stock Up 5.9 %

NASDAQ:CARA opened at $0.31 on Friday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.74. The firm’s fifty day simple moving average is $0.33 and its 200-day simple moving average is $0.53. The stock has a market cap of $16.68 million, a PE ratio of -0.14 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.26 million. Equities analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Cara Therapeutics

A number of institutional investors have recently modified their holdings of CARA. Disciplined Growth Investors Inc. MN boosted its position in 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 worth $499,000 after acquiring an additional 120,660 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics during the first quarter worth $86,000. Finally, Rosalind Advisors Inc. purchased a new stake in shares of Cara Therapeutics in the first quarter valued at $1,409,000. Institutional investors and hedge funds 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.