Cara Therapeutics (NASDAQ:CARA) Earns Sell Rating from Analysts at StockNews.com

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

Several other brokerages have also issued reports on CARA. Needham & Company LLC lowered Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $1.00 price target (down from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Stifel Nicolaus lowered Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $6.00 to $1.00 in a report on Thursday, June 13th. Canaccord Genuity Group lowered Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.00 to $1.00 in a report on Thursday, June 13th. Finally, HC Wainwright lowered Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Cara Therapeutics currently has an average rating of “Hold” and an average price target of $3.93.

Cara Therapeutics Price Performance

NASDAQ:CARA opened at $0.37 on Wednesday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $3.45. The stock’s 50-day moving average is $0.46 and its two-hundred day moving average is $0.64. The stock has a market cap of $19.96 million, a PE ratio of -0.16 and a beta of 0.69.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.18). The firm had revenue of $2.14 million for the quarter, compared to analyst estimates 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, equities research analysts anticipate that Cara Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in shares of Cara Therapeutics by 3.5% during the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 28,365 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cara Therapeutics by 155.8% during the fourth 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. Mackenzie Financial Corp lifted its holdings in shares of Cara Therapeutics by 71.2% during the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 22,329 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics during the first quarter worth approximately $86,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of Cara Therapeutics during the first quarter worth approximately $1,409,000. 44.66% of the stock is currently 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.