StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA – Free Report) in a research report released on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut Cara Therapeutics from a buy rating to a hold rating and dropped their target price for the stock from $6.00 to $1.00 in a report on Thursday, June 13th. HC Wainwright cut Cara Therapeutics from a buy rating to a neutral rating in a report on Thursday, June 13th. Canaccord Genuity Group cut 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 report 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, Canaccord Genuity Group reaffirmed a hold rating and set a $1.00 price target (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Cara Therapeutics presently has an average rating of Hold and a consensus target price of $2.32.
View Our Latest Research Report on Cara Therapeutics
Cara Therapeutics Trading Up 5.9 %
Cara Therapeutics (NASDAQ:CARA – Get Free Report) 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 return on equity of 241.31% and a negative net margin of 1,010.20%. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. Sell-side analysts predict that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cara Therapeutics
A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC bought a new stake in Cara Therapeutics, Inc. (NASDAQ:CARA – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned 0.17% of Cara Therapeutics as of its most recent filing with the Securities and Exchange Commission. 44.66% of the stock is owned by institutional investors and hedge funds.
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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