Cara Therapeutics (NASDAQ:CARA) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARAGet Free Report) in a research report issued on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on CARA. Stifel Nicolaus downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $1.00 target price (down from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. Finally, HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.93.

Check Out Our Latest Analysis on Cara Therapeutics

Cara Therapeutics Trading Up 12.3 %

Shares of Cara Therapeutics stock opened at $0.28 on Friday. The stock has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $0.73. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $4.45. The company has a market capitalization of $15.15 million, a P/E ratio of -0.12 and a beta of 0.79.

Cara Therapeutics (NASDAQ:CARAGet Free Report) last announced its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.14 million during the quarter, compared to analysts’ expectations of $2.25 million. On average, analysts predict that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in Cara Therapeutics by 71.2% during the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 22,329 shares during the last quarter. Algert Global LLC purchased a new position in shares of Cara Therapeutics during the third quarter valued at approximately $99,000. Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics during the first quarter valued at approximately $86,000. Assenagon Asset Management S.A. raised its holdings in shares of Cara Therapeutics by 155.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 102,230 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Cara Therapeutics in the third quarter worth $383,000. Institutional investors own 44.66% of the company’s stock.

About Cara Therapeutics

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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.

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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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