Cara Therapeutics’ (CARA) Buy Rating Reiterated at Needham & Company LLC

Cara Therapeutics (NASDAQ:CARA)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $5.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price suggests a potential upside of 475.37% from the company’s current price.

Several other research analysts have also commented on CARA. Canaccord Genuity Group cut their price target on shares of Cara Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. StockNews.com downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright lowered their price objective on shares of Cara Therapeutics from $7.00 to $2.50 and set a “buy” rating for the company in a research report on Tuesday, December 19th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.75.

Cara Therapeutics Stock Up 19.0 %

Shares of NASDAQ:CARA opened at $0.87 on Thursday. Cara Therapeutics has a 52-week low of $0.50 and a 52-week high of $5.20. The stock’s fifty day simple moving average is $0.73 and its 200-day simple moving average is $1.02. The company has a market capitalization of $47.50 million, a P/E ratio of -0.40 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). The firm had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $2.34 million. Cara Therapeutics had a negative net margin of 565.21% and a negative return on equity of 122.10%. During the same quarter last year, the company posted ($0.56) earnings per share. On average, sell-side analysts anticipate that Cara Therapeutics will post -1.25 earnings per share for the current year.

Hedge Funds Weigh In On Cara Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Cara Therapeutics by 27.7% during the first quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,302 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in Cara Therapeutics by 4.1% in the fourth quarter. State of Wisconsin Investment Board now owns 45,798 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 1,807 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cara Therapeutics by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 127,947 shares of the biopharmaceutical company’s stock valued at $1,555,000 after buying an additional 1,900 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Cara Therapeutics by 4.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 46,148 shares of the biopharmaceutical company’s stock valued at $496,000 after buying an additional 1,978 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Cara Therapeutics by 18.4% in the first quarter. Kestra Private Wealth Services LLC now owns 12,857 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 2,000 shares during the last quarter. 44.66% of the stock is currently owned by 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.