Cara Therapeutics (NASDAQ:CARA) Given Buy Rating at Needham & Company LLC

Cara Therapeutics (NASDAQ:CARA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $5.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Cara Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $3.60 price objective on shares of Cara Therapeutics in a research note on Wednesday, May 15th. Finally, StockNews.com lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.12.

Cara Therapeutics Trading Up 2.1 %

NASDAQ:CARA opened at $0.77 on Thursday. The stock has a market capitalization of $42.10 million, a PE ratio of -0.34 and a beta of 0.74. The firm’s 50 day moving average is $0.79 and its 200 day moving average is $0.81. Cara Therapeutics has a 12 month low of $0.50 and a 12 month high of $4.45.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $2.34 million. During the same period last year, the firm posted ($0.56) EPS. Research analysts predict that Cara Therapeutics will post -1.23 earnings per share for the current year.

Institutional Trading of Cara Therapeutics

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted 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 acquiring an additional 22,329 shares during the last quarter. Marquette Asset Management LLC bought a new stake in shares of Cara Therapeutics during the 1st quarter worth $86,000. Algert Global LLC bought a new stake in shares of Cara Therapeutics during the 3rd quarter worth $99,000. Assenagon Asset Management S.A. bought a new stake in shares of Cara Therapeutics during the 3rd quarter worth $110,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Cara Therapeutics during the 3rd quarter worth $383,000. 44.66% of the stock is owned by 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.