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

StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued to investors on Wednesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on CARA. Canaccord Genuity Group lowered shares of Cara Therapeutics from a buy rating to a hold rating and cut their price target for the stock from $10.00 to $1.00 in a 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. Stifel Nicolaus lowered shares of Cara Therapeutics from a buy rating to a hold rating and cut their price target for the stock from $6.00 to $1.00 in a report on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a buy rating to a hold rating in a report 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 equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $3.93.

Cara Therapeutics Price Performance

NASDAQ:CARA opened at $0.37 on Wednesday. The firm has a market cap of $20.36 million, a price-to-earnings ratio of -0.17 and a beta of 0.69. The company has a 50 day moving average price of $0.45 and a 200-day moving average price of $0.64. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $3.45.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly 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). 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%. On average, sell-side analysts anticipate that Cara Therapeutics will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

A number of large investors have recently modified their holdings of CARA. Rosalind Advisors Inc. purchased a new stake in shares of Cara Therapeutics during the first quarter worth $1,409,000. Assenagon Asset Management S.A. boosted its position 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 valued at $125,000 after acquiring an additional 102,230 shares during the last quarter. Marquette Asset Management LLC acquired a new position in Cara Therapeutics in the first quarter valued at about $86,000. Federated Hermes Inc. lifted its position in Cara Therapeutics by 3.5% in the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 28,365 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Cara Therapeutics by 71.2% in the fourth 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 during the last quarter. Hedge funds and other 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.