Cara Therapeutics (NASDAQ:CARA) Downgraded by HC Wainwright

HC Wainwright lowered shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat reports.

Several other analysts also recently issued reports on CARA. Canaccord Genuity Group decreased their target price on Cara Therapeutics from $11.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday, March 6th. StockNews.com downgraded Cara Therapeutics from a hold rating to a sell rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC downgraded Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $3.93.

Cara Therapeutics Stock Performance

Shares of NASDAQ:CARA opened at $0.35 on Thursday. The stock has a market capitalization of $19.14 million, a price-to-earnings ratio of -0.16 and a beta of 0.79. The stock’s 50-day simple moving average is $0.71 and its two-hundred day simple moving average is $0.75. Cara Therapeutics has a 52-week low of $0.34 and a 52-week high of $4.45.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. The company had revenue of $2.14 million for the quarter, compared to analysts’ expectations of $2.25 million. As a group, equities analysts forecast that Cara Therapeutics will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake 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 acquiring an additional 22,329 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the first quarter valued at approximately $86,000. Algert Global LLC bought a new position in Cara Therapeutics in the third quarter worth approximately $99,000. Assenagon Asset Management S.A. increased its holdings 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 worth $125,000 after purchasing an additional 102,230 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Cara Therapeutics during the 3rd quarter worth $383,000. Institutional investors own 44.66% of the company’s stock.

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.