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

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report released on Friday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

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

Cara Therapeutics Trading Down 0.8 %

CARA opened at $0.35 on Friday. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $3.27. The stock has a market capitalization of $19.04 million, a price-to-earnings ratio of -0.15 and a beta of 0.69. The business has a 50 day moving average of $0.38 and a 200-day moving average of $0.62.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its stake in Cara Therapeutics by 71.2% during the fourth 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 in the last quarter. Federated Hermes Inc. raised its stake in Cara Therapeutics by 3.5% during the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after acquiring an additional 28,365 shares in the last quarter. Marquette Asset Management LLC acquired a new position in Cara Therapeutics during the first quarter worth $86,000. Finally, Rosalind Advisors Inc. acquired a new position in Cara Therapeutics during the first quarter worth $1,409,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

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.