StockNews.com Begins Coverage on Cara Therapeutics (NASDAQ:CARA)

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

CARA has been the topic of a number of other research reports. Canaccord Genuity Group reaffirmed a hold rating and issued a $1.00 price objective (down previously 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 lowered their price objective for the company from $6.00 to $1.00 in a report on Thursday, June 13th. HC Wainwright lowered Cara Therapeutics from a buy rating to a neutral rating in a report on Thursday, June 13th. Canaccord Genuity Group downgraded shares of 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 research report on Thursday, June 13th. Finally, Needham & Company LLC downgraded shares of Cara Therapeutics from a buy rating to a hold rating in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Cara Therapeutics currently has an average rating of Hold and a consensus price target of $2.32.

Cara Therapeutics Stock Performance

NASDAQ:CARA opened at $0.31 on Thursday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.74. The stock has a market capitalization of $16.68 million, a P/E ratio of -0.14 and a beta of 0.70. The company has a 50 day moving average price of $0.33 and a 200 day moving average price of $0.53.

Cara Therapeutics (NASDAQ:CARA) last posted 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 firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. Research analysts forecast that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned about 0.17% of Cara Therapeutics at the end of the most recent reporting period. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

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.