Analysts Set Cara Therapeutics, Inc. (NASDAQ:CARA) Target Price at $2.32

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.32.

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research report on Sunday. They set a “sell” rating on the stock.

Cara Therapeutics Price Performance

Shares of Cara Therapeutics stock opened at $0.27 on Wednesday. The company has a market capitalization of $14.49 million, a P/E ratio of -0.12 and a beta of 0.70. The business’s fifty day moving average price is $0.30 and its two-hundred day moving average price is $0.46. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.41.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share 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. On average, research analysts expect that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC bought a new position in Cara Therapeutics, Inc. (NASDAQ:CARA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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. Hedge funds and other institutional investors own 44.66% of the company’s stock.

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.