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

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

Several other brokerages have also weighed in on CARA. 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 lowered shares of Cara Therapeutics from a buy rating to a hold rating in a report on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a buy rating to a hold rating and dropped their price objective for the company from $6.00 to $1.00 in a report on Thursday, June 13th. Canaccord Genuity Group reiterated a hold rating and set a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Finally, Canaccord Genuity Group lowered shares of Cara Therapeutics from a buy rating to a hold rating and dropped their price objective for the company from $10.00 to $1.00 in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Cara Therapeutics has a consensus rating of Hold and an average target price of $3.93.

Cara Therapeutics Stock Up 2.0 %

CARA stock opened at $0.37 on Wednesday. The firm has a market cap of $20.36 million, a price-to-earnings ratio of -0.17 and a beta of 0.69. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $3.45. The company’s fifty day simple moving average is $0.45 and its 200 day simple moving average is $0.64.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.18). The firm had revenue of $2.14 million during the quarter, compared to analyst estimates of $2.25 million. Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. Research analysts expect that Cara Therapeutics will post -1.28 earnings per share for the current year.

Institutional Investors Weigh In On Cara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CARA. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics in the 1st quarter worth about $1,409,000. Assenagon Asset Management S.A. grew its position in Cara Therapeutics by 155.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 102,230 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Cara Therapeutics in the 1st quarter worth about $86,000. Federated Hermes Inc. grew its position in Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after purchasing an additional 28,365 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Cara Therapeutics by 71.2% in the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 22,329 shares in the last quarter. Institutional investors and hedge funds 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.