Cara Therapeutics (CARA) – Investment Analysts’ Weekly Ratings Changes

Cara Therapeutics (NASDAQ: CARA) recently received a number of ratings updates from brokerages and research firms:

• 6/22/2024 – Cara Therapeutics is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 6/13/2024 – Cara Therapeutics was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating.
• 6/13/2024 – Cara Therapeutics had its “hold” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $1.00 price target on the stock, down previously from $10.00.
• 6/13/2024 – Cara Therapeutics was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $1.00 price target on the stock, down previously from $6.00.
• 6/13/2024 – Cara Therapeutics was downgraded by analysts at Canaccord Genuity Group Inc. from a “buy” rating to a “hold” rating. They now have a $1.00 price target on the stock, down previously from $10.00.
• 6/13/2024 – Cara Therapeutics was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.
• 5/23/2024 – Cara Therapeutics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.
• 5/15/2024 – Cara Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $3.60 price target on the stock.
• 5/14/2024 – Cara Therapeutics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.

Cara Therapeutics Stock Performance

Shares of Cara Therapeutics stock traded down $0.01 during trading hours on Tuesday, hitting $0.33. The company’s stock had a trading volume of 846,584 shares, compared to its average volume of 659,891. Cara Therapeutics, Inc. has a twelve month low of $0.24 and a twelve month high of $4.45. The firm has a fifty day moving average of $0.65 and a 200-day moving average of $0.72. The stock has a market cap of $18.11 million, a price-to-earnings ratio of -0.15 and a beta of 0.79.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share 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 firm had revenue of $2.14 million during the quarter, compared to analyst estimates of $2.25 million. On average, sell-side analysts expect that Cara Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Rosalind Advisors Inc. acquired a new position in shares of Cara Therapeutics in the 1st quarter worth $1,409,000. Federated Hermes Inc. grew its position in Cara Therapeutics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after acquiring an additional 28,365 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Cara Therapeutics during the 3rd quarter worth $383,000. Assenagon Asset Management S.A. lifted its holdings in Cara Therapeutics by 155.8% during the 4th 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 in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics in the 1st quarter valued at $86,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.