StockNews.com Initiates Coverage on Cara Therapeutics (NASDAQ:CARA)

Analysts at StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $6.00 to $1.00 in a research report on Thursday, June 13th. HC Wainwright cut Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $1.00 target price (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Canaccord Genuity Group downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $1.00 in a research note on Thursday, June 13th. Finally, Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Cara Therapeutics has a consensus rating of “Hold” and a consensus price target of $2.32.

Cara Therapeutics Price Performance

Cara Therapeutics stock opened at $0.33 on Friday. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $3.06. The firm’s 50 day moving average price is $0.35 and its 200-day moving average price is $0.61. The stock has a market cap of $18.31 million, a P/E ratio of -0.15 and a beta of 0.69.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results 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). The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. As a group, equities analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Institutional investors have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN lifted its stake in shares of Cara Therapeutics by 6.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 120,660 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics during the first quarter valued at $86,000. Rosalind Advisors Inc. bought a new position in shares of Cara Therapeutics in the first quarter worth about $1,409,000. Federated Hermes Inc. increased its stake in Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 28,365 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings 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 buying an additional 22,329 shares in the last quarter. Institutional investors 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.