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

Analysts at StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on CARA. Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Canaccord Genuity Group cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. HC Wainwright cut shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $1.00 price target (down from $10.00) on shares of Cara Therapeutics in a research note 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.93.

Cara Therapeutics Stock Down 7.8 %

Shares of NASDAQ CARA opened at $0.34 on Tuesday. The company’s fifty day moving average is $0.50 and its 200-day moving average is $0.65. The stock has a market cap of $18.65 million, a price-to-earnings ratio of -0.15 and a beta of 0.69. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $3.45.

Cara Therapeutics (NASDAQ:CARA) last posted 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 the consensus estimate of $2.25 million. Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. On average, research analysts anticipate that Cara Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in Cara Therapeutics by 71.2% in the 4th 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. Marquette Asset Management LLC bought a new stake in Cara Therapeutics in the 1st quarter valued at about $86,000. Assenagon Asset Management S.A. boosted its holdings in 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. Federated Hermes Inc. boosted its holdings in Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 28,365 shares during the period. Finally, Rosalind Advisors Inc. bought a new stake in Cara Therapeutics in the 1st quarter valued at about $1,409,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.