Cara Therapeutics (NASDAQ:CARA) Rating Reiterated by Canaccord Genuity Group

Cara Therapeutics (NASDAQ:CARAGet Free Report)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity Group in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $1.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $10.00. Canaccord Genuity Group’s price objective indicates a potential upside of 185.71% from the stock’s previous close.

CARA has been the subject of a number of other research reports. Canaccord Genuity Group downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $1.00 in a research report on Thursday. StockNews.com downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Needham & Company LLC downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $6.00 to $1.00 in a research report on Thursday. Finally, HC Wainwright downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.93.

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Cara Therapeutics Trading Down 21.1 %

NASDAQ:CARA opened at $0.35 on Thursday. Cara Therapeutics has a 12 month low of $0.34 and a 12 month high of $4.45. The company has a market cap of $19.14 million, a PE ratio of -0.16 and a beta of 0.79. The company has a 50 day simple moving average of $0.71 and a two-hundred day simple moving average of $0.76.

Cara Therapeutics (NASDAQ:CARAGet Free Report) last posted its earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The company had revenue of $2.14 million during the quarter, compared to the consensus estimate of $2.25 million. Research analysts forecast that Cara Therapeutics will post -1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Cara Therapeutics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after buying an additional 28,365 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cara Therapeutics by 155.8% during the 4th 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 in the last quarter. Mackenzie Financial Corp lifted its stake in Cara Therapeutics by 71.2% in the 4th quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 22,329 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Cara Therapeutics in the 3rd quarter worth $383,000. Finally, Algert Global LLC purchased a new stake in Cara Therapeutics in the 3rd quarter worth $99,000. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Company Profile

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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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Analyst Recommendations for Cara Therapeutics (NASDAQ:CARA)

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