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

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

Several other brokerages have also recently commented on CARA. Needham & Company LLC cut shares of Cara Therapeutics from a buy rating to a hold rating in a research report on Thursday, June 13th. HC Wainwright lowered shares of Cara Therapeutics from a buy rating to a neutral rating in a research note on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a buy rating to a hold rating and dropped their price objective for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. Canaccord Genuity Group reiterated a hold rating and set a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group lowered shares of Cara Therapeutics from a buy rating to a hold rating and dropped their price objective for the stock from $10.00 to $1.00 in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $2.32.

Cara Therapeutics Stock Performance

Shares of CARA stock opened at $0.32 on Monday. Cara Therapeutics has a one year low of $0.24 and a one year high of $2.48. The company’s 50-day simple moving average is $0.34 and its 200-day simple moving average is $0.59. The stock has a market capitalization of $17.55 million, a price-to-earnings ratio of -0.14 and a beta of 0.69.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS 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, research analysts forecast that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Marquette Asset Management LLC bought a new stake in shares of Cara Therapeutics during the 1st quarter worth $86,000. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 120,660 shares during the period. Finally, Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics during the first quarter worth approximately $1,409,000. 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.