Cara Therapeutics (NASDAQ:CARA) Rating Reiterated by Needham & Company LLC

Cara Therapeutics (NASDAQ:CARA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $5.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the company. StockNews.com cut Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Canaccord Genuity Group reduced their price target on Cara Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.60 price target on shares of Cara Therapeutics in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.12.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA opened at $0.67 on Thursday. The business’s 50-day moving average price is $0.79 and its two-hundred day moving average price is $0.81. Cara Therapeutics has a one year low of $0.50 and a one year high of $4.45. The company has a market capitalization of $36.70 million, a P/E ratio of -0.30 and a beta of 0.74.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $2.34 million. During the same period in the prior year, the firm earned ($0.56) EPS. On average, equities analysts anticipate that Cara Therapeutics will post -1.23 EPS for the current year.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently added to or reduced their stakes in CARA. Mackenzie Financial Corp boosted its stake 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 bought a new stake in shares of Cara Therapeutics in the 1st quarter worth approximately $86,000. Algert Global LLC bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth approximately $99,000. Assenagon Asset Management S.A. bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth approximately $110,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth approximately $383,000. 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.