Posted by Defense World Staff on Jul 24th, 2024
Stock analysts at StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA – Get Free Report) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.
CARA has been the subject of several other research reports. Needham & Company LLC cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $1.00 in a research report on Thursday, June 13th. 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 research note on Thursday, June 13th. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $10.00 to $1.00 in a research note on Thursday, June 13th. Finally, HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Cara Therapeutics has an average rating of “Hold” and an average target price of $3.93.
Get Our Latest Research Report on CARA
Cara Therapeutics Trading Up 2.7 %
Shares of NASDAQ:CARA opened at $0.38 on Wednesday. The company has a 50 day moving average of $0.48 and a 200-day moving average of $0.65. The firm has a market cap of $20.69 million, a P/E ratio of -0.17 and a beta of 0.70. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $3.45.
Cara Therapeutics (NASDAQ:CARA – Get Free Report) last announced its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) 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 the consensus estimate of $2.25 million. Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. Equities research analysts forecast that Cara Therapeutics will post -1.28 EPS for the current year.
Hedge Funds Weigh In On Cara Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in shares of Cara Therapeutics by 71.2% in the fourth 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 in the last quarter. Marquette Asset Management LLC purchased a new position in Cara Therapeutics during the 1st quarter valued at about $86,000. Assenagon Asset Management S.A. increased its holdings 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 valued at $125,000 after purchasing an additional 102,230 shares during the period. Federated Hermes Inc. increased its holdings in shares of Cara Therapeutics by 3.5% in the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 28,365 shares during the period. Finally, Rosalind Advisors Inc. acquired a new position in shares of Cara Therapeutics in the 1st quarter valued at about $1,409,000. Institutional investors and hedge funds 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.
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