Cara Therapeutics (NASDAQ:CARA) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note published on Wednesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group lowered Cara Therapeutics from a buy rating to a hold rating and dropped their price objective for the stock from $10.00 to $1.00 in a report on Thursday, June 13th. Stifel Nicolaus downgraded Cara Therapeutics from a buy rating to a hold rating and dropped their price target for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC lowered Cara Therapeutics from a buy rating to a hold rating in a research report on Thursday, June 13th. Canaccord Genuity Group reissued a hold rating and issued a $1.00 price objective (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Finally, HC Wainwright cut shares of Cara Therapeutics from a buy rating to a neutral rating in a report 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. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $2.32.

Cara Therapeutics Stock Down 2.2 %

CARA stock opened at $0.30 on Wednesday. The business has a 50 day moving average price of $0.34 and a 200 day moving average price of $0.55. The stock has a market cap of $16.51 million, a price-to-earnings ratio of -0.13 and a beta of 0.70. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.87.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. As a group, sell-side analysts anticipate that Cara Therapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics during the first quarter worth $1,409,000. Disciplined Growth Investors Inc. MN raised its position in Cara Therapeutics by 6.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after buying an additional 120,660 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics in the 1st quarter worth $86,000. 44.66% of the stock is currently owned by hedge funds and other 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.