Cara Therapeutics, Inc. (NASDAQ:CARA) Receives $3.93 Consensus Target Price from Analysts

Cara Therapeutics, Inc. (NASDAQ:CARA) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.93.

Several research firms have recently weighed in on CARA. StockNews.com assumed coverage on shares of Cara Therapeutics in a research note on Thursday, August 1st. They issued a “sell” rating for the company. Canaccord Genuity Group downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. HC Wainwright downgraded Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th. Finally, Stifel Nicolaus downgraded Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th.

Institutional Investors Weigh In On Cara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its stake 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 valued at $40,000 after purchasing an additional 22,329 shares in the last quarter. Marquette Asset Management LLC bought a new position in Cara Therapeutics during the 1st quarter valued at approximately $86,000. Assenagon Asset Management S.A. raised its stake in 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 valued at $125,000 after buying an additional 102,230 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Cara Therapeutics by 3.5% in the fourth 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 in the last quarter. Finally, Rosalind Advisors Inc. purchased a new stake in shares of Cara Therapeutics in the first quarter worth $1,409,000. 44.66% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA opened at $0.36 on Friday. The stock has a market capitalization of $19.78 million, a PE ratio of -0.16 and a beta of 0.69. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $3.27. The business has a fifty day moving average price of $0.40 and a two-hundred day moving average price of $0.63.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.25 million. On average, equities analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

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.