Cara Therapeutics, Inc. (NASDAQ:CARA – Free Report) – Stock analysts at HC Wainwright upped their FY2023 earnings estimates for shares of Cara Therapeutics in a research report issued to clients and investors on Tuesday, November 14th. HC Wainwright analyst O. Livnat now anticipates that the biopharmaceutical company will earn ($2.09) per share for the year, up from their previous estimate of ($2.14). HC Wainwright currently has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Cara Therapeutics’ current full-year earnings is ($2.08) per share. HC Wainwright also issued estimates for Cara Therapeutics’ Q4 2023 earnings at ($0.50) EPS, Q1 2024 earnings at ($0.40) EPS, Q2 2024 earnings at ($0.48) EPS, Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.71) EPS, FY2025 earnings at ($1.21) EPS, FY2026 earnings at ($0.99) EPS and FY2027 earnings at ($0.42) EPS.
Other equities analysts have also issued reports about the company. Stifel Nicolaus dropped their price objective on Cara Therapeutics from $28.00 to $25.00 in a research note on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Cara Therapeutics in a research report on Tuesday, August 8th. StockNews.com initiated coverage on shares of Cara Therapeutics in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Piper Sandler reissued a “neutral” rating on shares of Cara Therapeutics in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.86.
Cara Therapeutics Price Performance
Cara Therapeutics stock opened at $1.09 on Friday. Cara Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $12.81. The firm has a fifty day moving average price of $1.48 and a two-hundred day moving average price of $2.61.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CARA. Federated Hermes Inc. grew its stake in shares of Cara Therapeutics by 27.7% in the 1st quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 1,302 shares during the period. State of Wisconsin Investment Board grew its position in Cara Therapeutics by 4.1% in the fourth quarter. State of Wisconsin Investment Board now owns 45,798 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 1,807 shares during the period. Goldman Sachs Group Inc. raised its stake in Cara Therapeutics by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 127,947 shares of the biopharmaceutical company’s stock worth $1,555,000 after acquiring an additional 1,900 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Cara Therapeutics by 4.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 46,148 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 1,978 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of Cara Therapeutics by 18.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,857 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of 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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