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

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

Several other research firms have also issued reports on CARA. Needham & Company LLC lowered shares of Cara Therapeutics from a buy rating to a hold rating in a research note on Thursday, June 13th. HC Wainwright downgraded shares of Cara Therapeutics from a buy rating to a neutral rating in a report on Thursday, June 13th. Stifel Nicolaus downgraded Cara Therapeutics from a buy rating to a hold rating and reduced their target price for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. Canaccord Genuity Group downgraded Cara Therapeutics from a buy rating to a hold rating and decreased their target price for the company from $10.00 to $1.00 in a research report on Thursday, June 13th. Finally, Canaccord Genuity Group reaffirmed a hold rating and issued a $1.00 target price (down previously from $10.00) on shares of Cara Therapeutics 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $3.93.

Cara Therapeutics Trading Down 2.5 %

Shares of NASDAQ CARA opened at $0.35 on Thursday. The company has a market capitalization of $18.92 million, a price-to-earnings ratio of -0.15 and a beta of 0.69. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $3.27. The firm has a 50-day moving average of $0.41 and a two-hundred day moving average of $0.63.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data 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). The firm had revenue of $2.14 million for the quarter, compared to analysts’ expectations of $2.25 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. As a group, research analysts predict that Cara Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its position in Cara Therapeutics by 71.2% during the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 22,329 shares during the period. Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics during the first quarter valued at approximately $86,000. Assenagon Asset Management S.A. grew its stake in shares of Cara Therapeutics by 155.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 102,230 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Cara Therapeutics by 3.5% in the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after acquiring an additional 28,365 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new stake in Cara Therapeutics during the first quarter worth about $1,409,000. 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.