Cara Therapeutics (NASDAQ:CARA) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARAFree Report) in a research note released on Monday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC downgraded Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. Canaccord Genuity Group restated a hold rating and set a $1.00 price target (down previously from $10.00) on shares of Cara Therapeutics in a research note 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. Canaccord Genuity Group cut Cara Therapeutics from a buy rating to a hold rating and decreased their price objective for the stock from $10.00 to $1.00 in a research report on Thursday, June 13th. Finally, HC Wainwright cut Cara Therapeutics from a buy rating to a neutral rating in a research 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. According to data from MarketBeat, Cara Therapeutics presently has an average rating of Hold and an average price target of $3.93.

Read Our Latest Stock Analysis on CARA

Cara Therapeutics Price Performance

CARA stock opened at $0.29 on Monday. The firm has a market capitalization of $15.64 million, a P/E ratio of -0.13 and a beta of 0.69. The business’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.67. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $3.45.

Cara Therapeutics (NASDAQ:CARAGet Free Report) last posted its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (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 net margin of 723.49% and a negative return on equity of 174.15%. On average, analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently modified their holdings of CARA. Assenagon Asset Management S.A. lifted its holdings in shares of 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 valued at $125,000 after buying an additional 102,230 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Cara Therapeutics by 71.2% in the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 22,329 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 28,365 shares during the period. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics in the 1st quarter valued at approximately $1,409,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics in the 1st quarter valued at approximately $86,000. 44.66% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

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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.

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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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