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

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

Several other research firms have also commented on CARA. Canaccord Genuity Group lowered shares of Cara Therapeutics from a buy rating to a hold rating and decreased their price objective for the stock from $10.00 to $1.00 in a research report on Thursday, June 13th. 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 report on Thursday, June 13th. Needham & Company LLC downgraded Cara Therapeutics from a buy rating to a hold rating in a research report on Thursday, June 13th. Stifel Nicolaus lowered Cara Therapeutics from a buy rating to a hold rating and reduced their target price for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. Finally, HC Wainwright downgraded Cara Therapeutics from a buy rating to a neutral rating in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $2.32.

Cara Therapeutics Trading Down 2.2 %

CARA stock opened at $0.30 on Wednesday. The firm has a 50 day moving average of $0.34 and a 200-day moving average of $0.55. The company has a market cap of $16.51 million, a price-to-earnings ratio of -0.13 and a beta of 0.70. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $1.87.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.26 million. Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. Sell-side analysts forecast that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN increased its stake in shares of Cara Therapeutics by 6.6% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after acquiring an additional 120,660 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in Cara Therapeutics in the first quarter valued at approximately $86,000. Finally, Rosalind Advisors Inc. acquired a new position in Cara Therapeutics during the first quarter worth approximately $1,409,000. 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.