Cara Therapeutics (NASDAQ:CARA) Lowered to “Neutral” at HC Wainwright

HC Wainwright cut shares of Cara Therapeutics (NASDAQ:CARA) from a buy rating to a neutral rating in a research report report published on Thursday, Marketbeat reports.

Other equities analysts have also issued research reports about the company. Needham & Company LLC lowered Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday. Canaccord Genuity Group dropped their price target on Cara Therapeutics from $11.00 to $10.00 and set a buy rating on the stock in a research note on Wednesday, March 6th. Finally, StockNews.com lowered Cara Therapeutics from a hold rating to a sell rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $3.93.

Cara Therapeutics Price Performance

CARA opened at $0.35 on Thursday. The business’s 50-day moving average is $0.71 and its two-hundred day moving average is $0.75. Cara Therapeutics has a 1 year low of $0.34 and a 1 year high of $4.45. The firm has a market capitalization of $19.14 million, a PE ratio of -0.16 and a beta of 0.79.

Cara Therapeutics (NASDAQ:CARA) last posted its 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). Cara Therapeutics had a negative net margin of 723.49% and a negative return on equity of 174.15%. The company had revenue of $2.14 million during the quarter, compared to analysts’ expectations of $2.25 million. As a group, sell-side analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Large investors have recently modified their holdings of the business. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics during the first quarter worth about $86,000. Rosalind Advisors Inc. acquired a new stake in shares of Cara Therapeutics during the first quarter worth about $1,409,000. 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 purchasing an additional 28,365 shares during the period. 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 purchasing an additional 22,329 shares during the period. Finally, 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 purchasing an additional 102,230 shares during the period. 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.