Cara Therapeutics (NASDAQ:CARA) Downgraded by Stifel Nicolaus to Hold

Stifel Nicolaus downgraded shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has $1.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $6.00.

A number of other research firms have also recently issued reports on CARA. Needham & Company LLC cut shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday. StockNews.com cut shares of Cara Therapeutics from a hold rating to a sell rating in a research note on Wednesday, March 6th. Canaccord Genuity Group cut shares of Cara Therapeutics from a buy rating to a hold rating and dropped their price target for the company from $10.00 to $1.00 in a research note on Thursday. HC Wainwright cut shares of Cara Therapeutics from a buy rating to a neutral rating in a research note on Thursday. Finally, Canaccord Genuity Group lowered their target price on shares of Cara Therapeutics from $11.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Cara Therapeutics presently has an average rating of Hold and a consensus price target of $3.93.

Cara Therapeutics Price 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. Cara Therapeutics has a 12 month low of $0.34 and a 12 month high of $4.45. The firm’s 50 day simple moving average is $0.71 and its 200-day simple moving average is $0.75.

Cara Therapeutics (NASDAQ:CARA) last released 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). 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 during the quarter, compared to analyst estimates of $2.25 million. Analysts anticipate that Cara Therapeutics will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARA. Acadian Asset Management LLC acquired a new stake in Cara Therapeutics during the 3rd quarter worth $383,000. Algert Global LLC purchased a new position in shares of Cara Therapeutics during the 3rd quarter worth $99,000. Assenagon Asset Management S.A. raised 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 worth $125,000 after acquiring an additional 102,230 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Cara Therapeutics by 71.2% during 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 during the period. Finally, Federated Hermes Inc. raised 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 worth $618,000 after acquiring an additional 28,365 shares during the period. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.