Cara Therapeutics (NASDAQ:CARA) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report released on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on CARA. Canaccord Genuity Group downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. Stifel Nicolaus cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $1.00 in a research report on Thursday, June 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $1.00 price target (down previously from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Needham & Company LLC downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Finally, HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.93.

Cara Therapeutics Stock Up 12.3 %

Shares of NASDAQ:CARA opened at $0.28 on Friday. The company’s fifty day moving average is $0.65 and its 200 day moving average is $0.73. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $4.45. The stock has a market cap of $15.15 million, a PE ratio of -0.12 and a beta of 0.79.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.18). The company had revenue of $2.14 million during the quarter, compared to analysts’ expectations of $2.25 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. Sell-side analysts anticipate that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in Cara Therapeutics by 71.2% in the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 22,329 shares in the last quarter. Algert Global LLC purchased a new position in shares of Cara Therapeutics during the 3rd quarter worth approximately $99,000. Marquette Asset Management LLC bought a new position in shares of Cara Therapeutics in the 1st quarter worth approximately $86,000. Assenagon Asset Management S.A. lifted its stake in shares of Cara Therapeutics by 155.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 102,230 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Cara Therapeutics in the 3rd quarter valued at approximately $383,000. 44.66% of the stock is owned by hedge funds and other institutional investors.

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.