Analysts Set Cara Therapeutics, Inc. (NASDAQ:CARA) Price Target at $3.93

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have been given an average rating of “Hold” by the six research firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $3.93.

Several research analysts recently issued reports on the stock. 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 research report on Thursday, June 13th. StockNews.com started coverage on Cara Therapeutics in a research note on Thursday, August 1st. They issued a “sell” rating on the stock. HC Wainwright lowered Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $6.00 to $1.00 in a report on Thursday, June 13th. Finally, Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.36 on Friday. The business has a 50 day simple moving average of $0.40 and a 200 day simple moving average of $0.63. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $3.27. The stock has a market cap of $19.78 million, a price-to-earnings ratio of -0.16 and a beta of 0.69.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). The business had revenue of $2.14 million for 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, analysts predict that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CARA. Mackenzie Financial Corp grew its stake 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 in the last quarter. Federated Hermes Inc. grew 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 purchasing an additional 28,365 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Cara Therapeutics during the 1st quarter worth about $86,000. Assenagon Asset Management S.A. boosted its stake 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 buying an additional 102,230 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new position in shares of 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.