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

Stock analysts at StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report issued on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $6.00 to $1.00 in a research report on Thursday, June 13th. Canaccord Genuity Group restated a “hold” rating and issued a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Canaccord Genuity Group lowered Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. Needham & Company LLC downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Finally, HC Wainwright lowered Cara Therapeutics from a “buy” rating to a “neutral” rating 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.32.

Cara Therapeutics Price Performance

Shares of CARA opened at $0.27 on Wednesday. The company has a market capitalization of $14.60 million, a P/E ratio of -0.12 and a beta of 0.70. Cara Therapeutics has a one year low of $0.24 and a one year high of $2.31. The business’s 50 day simple moving average is $0.34 and its 200-day simple moving average is $0.56.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) 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 business had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. On average, sell-side analysts anticipate that Cara Therapeutics will post -1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Rosalind Advisors Inc. bought a new position in Cara Therapeutics during the first quarter worth about $1,409,000. Disciplined Growth Investors Inc. MN boosted its stake 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 acquiring an additional 120,660 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new position in Cara Therapeutics during the first quarter valued at approximately $86,000. 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.