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

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report released on Tuesday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on CARA. Canaccord Genuity Group cut Cara Therapeutics from a buy rating to a hold rating and reduced their price objective for the stock from $10.00 to $1.00 in a research note on Thursday, June 13th. Stifel Nicolaus cut Cara Therapeutics from a buy rating to a hold rating and cut their target price for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC cut Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. Canaccord Genuity Group reaffirmed a hold rating and set a $1.00 target price (down previously from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Finally, HC Wainwright cut Cara Therapeutics from a buy rating to a neutral rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, Cara Therapeutics has an average rating of Hold and a consensus target price of $2.32.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA opened at $0.26 on Tuesday. The business’s 50 day moving average is $0.34 and its two-hundred day moving average is $0.58. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.48. The stock has a market capitalization of $14.40 million, a P/E ratio of -0.12 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.26 million. As a group, equities research analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Cara Therapeutics

Large investors have recently modified their holdings of the company. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the first quarter valued at approximately $86,000. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cara Therapeutics by 6.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 120,660 shares during the period. Finally, Rosalind Advisors Inc. purchased a new stake in shares of Cara Therapeutics in the first quarter valued at approximately $1,409,000. Hedge funds and other 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.