Cara Therapeutics (NASDAQ:CARA) Now Covered by StockNews.com

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

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $1.00 in a report on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.00 price objective (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 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 analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.32.

Cara Therapeutics Stock Performance

Shares of Cara Therapeutics stock opened at $0.31 on Thursday. The stock has a 50 day moving average price of $0.33 and a two-hundred day moving average price of $0.53. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $1.74. The stock has a market capitalization of $16.68 million, a PE ratio of -0.14 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.26 million. Research analysts forecast that Cara Therapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Cara Therapeutics

A hedge fund recently raised its position in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN boosted its position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,935,718 shares of the biopharmaceutical company’s stock after buying an additional 120,660 shares during the quarter. Disciplined Growth Investors Inc. MN owned approximately 3.54% of Cara Therapeutics worth $499,000 as of its most recent filing with the Securities & Exchange Commission. 44.66% of the stock is owned by institutional investors.

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.