StockNews.com Begins Coverage on Cara Therapeutics (NASDAQ:CARA)

StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) 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.

Cara Therapeutics Trading Up 5.9 %

Shares of CARA stock opened at $0.31 on Thursday. The stock has a 50 day moving average of $0.33 and a two-hundred day moving average of $0.53. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.74. The company has a market capitalization of $16.68 million, a P/E 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 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) 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.