Cara Therapeutics (NASDAQ:CARA) Receives New Coverage from Analysts at StockNews.com

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

Other analysts have also recently issued reports about the stock. Stifel Nicolaus cut shares of Cara Therapeutics from a buy rating to a hold rating and lowered their target price for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. HC Wainwright cut shares of Cara Therapeutics from a buy rating to a neutral rating in a research note on Thursday, June 13th. Needham & Company LLC cut shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. Canaccord Genuity Group cut shares of Cara Therapeutics from a buy rating to a hold rating and lowered their target price for the stock from $10.00 to $1.00 in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group reiterated a hold rating and issued a $1.00 target price (down from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Cara Therapeutics has an average rating of Hold and an average target price of $3.93.

Cara Therapeutics Stock Performance

NASDAQ:CARA opened at $0.26 on Friday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $3.45. The stock has a market capitalization of $14.11 million, a P/E ratio of -0.11 and a beta of 0.79. The company’s 50-day simple moving average is $0.61 and its 200-day simple moving average is $0.69.

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

Institutional Trading of Cara Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its stake in Cara Therapeutics by 71.2% during the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 22,329 shares during the period. Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics during the 1st quarter valued at approximately $86,000. Algert Global LLC purchased a new position in shares of Cara Therapeutics during the 3rd quarter valued at approximately $99,000. Assenagon Asset Management S.A. increased its holdings in shares of Cara Therapeutics by 155.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 102,230 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Cara Therapeutics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 28,365 shares in the last quarter. 44.66% of the stock is currently owned by institutional investors and hedge funds.

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.