StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA – Free Report) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.
Several other analysts also recently issued reports on the stock. Canaccord Genuity Group reaffirmed a hold rating and issued a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a buy rating to a hold rating and lowered their price target for the company from $6.00 to $1.00 in a report on Thursday, June 13th. HC Wainwright lowered shares of Cara Therapeutics from a buy rating to a neutral rating in a report on Thursday, June 13th. Needham & Company LLC downgraded Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group cut 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, June 13th. One equities research 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.com, the company currently has a consensus rating of Hold and an average target price of $2.32.
Get Our Latest Stock Analysis on Cara Therapeutics
Cara Therapeutics Stock Down 3.4 %
Cara Therapeutics (NASDAQ:CARA – Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate 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. Research analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current year.
Institutional Investors Weigh In On Cara Therapeutics
A hedge fund recently bought a new position in Cara Therapeutics stock. Marquette Asset Management LLC acquired 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 (SEC). The fund acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned about 0.17% of Cara Therapeutics as of its most recent SEC filing. 44.66% of the stock is currently owned by institutional investors.
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.
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