Cara Therapeutics, Inc. (NASDAQ:CARA) Receives $2.32 Average PT from Brokerages

Cara Therapeutics, Inc. (NASDAQ:CARA) has been given an average rating of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.32.

A number of analysts have recently commented on the company. Needham & Company LLC cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. StockNews.com began coverage on Cara Therapeutics in a research note on Thursday. They issued a “sell” rating for the company. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their target price 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 previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Finally, HC Wainwright downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th.

Cara Therapeutics Stock Up 5.9 %

Shares of Cara Therapeutics stock opened at $0.31 on Friday. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $1.74. The firm’s 50 day moving average is $0.33 and its two-hundred day moving average is $0.53. The firm has a market capitalization of $16.68 million, a P/E ratio of -0.14 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $1.26 million. As a group, research analysts expect that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cara Therapeutics

Several institutional investors have recently bought and sold shares of CARA. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the first quarter valued at about $86,000. Rosalind Advisors Inc. purchased a new stake in Cara Therapeutics in the 1st quarter valued at approximately $1,409,000. Finally, Disciplined Growth Investors Inc. MN increased its position in 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 worth $499,000 after purchasing an additional 120,660 shares during the period. 44.66% of the stock is 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.