Cara Therapeutics (NASDAQ:CARA) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cara Therapeutics (NASDAQ:CARA) in a research note released on Thursday morning, Benzinga reports. They currently have a $5.00 target price on the biopharmaceutical company’s stock.

CARA has been the topic of a number of other reports. StockNews.com cut Cara Therapeutics from a hold rating to a sell rating in a research report on Wednesday, March 6th. HC Wainwright restated a buy rating and issued a $3.60 price objective on shares of Cara Therapeutics in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group decreased their price objective on shares of Cara Therapeutics from $11.00 to $10.00 and set a buy rating for the company in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Cara Therapeutics presently has a consensus rating of Hold and an average price target of $11.12.

Cara Therapeutics Stock Down 8.5 %

Shares of CARA opened at $0.67 on Thursday. The business’s 50 day moving average price is $0.79 and its 200-day moving average price is $0.80. Cara Therapeutics has a 52 week low of $0.50 and a 52 week high of $4.45. The stock has a market cap of $36.70 million, a P/E ratio of -0.30 and a beta of 0.74.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $2.34 million. During the same period in the prior year, the firm earned ($0.56) earnings per share. On average, equities analysts anticipate that Cara Therapeutics will post -1.23 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. purchased a new stake in Cara Therapeutics during the 1st quarter valued at $1,409,000. Federated Hermes Inc. raised its stake in 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 buying an additional 28,365 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Cara Therapeutics during the 3rd quarter valued at $383,000. Assenagon Asset Management S.A. raised its stake in 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 buying an additional 102,230 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the 1st quarter worth $86,000. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

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.