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

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

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

Cara Therapeutics Price Performance

Shares of Cara Therapeutics stock opened at $0.29 on Monday. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $3.45. The stock has a market cap of $15.61 million, a P/E ratio of -0.13 and a beta of 0.69. The business’s 50 day moving average is $0.55 and its 200-day moving average is $0.67.

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

Institutional Trading of Cara Therapeutics

Several large investors have recently modified their holdings of the stock. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics during the 1st quarter worth $1,409,000. Federated Hermes Inc. grew its holdings in shares of Cara Therapeutics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after purchasing an additional 28,365 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Cara Therapeutics by 155.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 102,230 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics during the 1st quarter worth $86,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Cara Therapeutics by 71.2% during the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 22,329 shares in the last quarter. 44.66% of the stock is owned by institutional investors and hedge funds.

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.