Cara Therapeutics’ (CARA) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also weighed in on CARA. StockNews.com lowered Cara Therapeutics from a hold rating to a sell rating in a research report on Wednesday, March 6th. HC Wainwright lowered their price target on Cara Therapeutics from $7.00 to $2.50 and set a buy rating for the company in a report on Tuesday, December 19th. Finally, Canaccord Genuity Group lowered their price target on Cara Therapeutics from $11.00 to $10.00 and set a buy rating for the company in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $9.75.

Cara Therapeutics Trading Down 2.4 %

NASDAQ:CARA opened at $0.81 on Wednesday. The firm has a market cap of $44.38 million, a PE ratio of -0.37 and a beta of 0.70. The stock has a fifty day moving average price of $0.80 and a 200 day moving average price of $0.95. Cara Therapeutics has a 12-month low of $0.50 and a 12-month high of $4.67.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). The company had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $2.34 million. Cara Therapeutics had a negative net margin of 565.21% and a negative return on equity of 122.10%. During the same quarter last year, the business posted ($0.56) earnings per share. Equities analysts forecast that Cara Therapeutics will post -1.25 EPS for the current year.

Institutional Investors Weigh In On Cara Therapeutics

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Cara Therapeutics by 3.1% in the third quarter. BlackRock Inc. now owns 7,582,294 shares of the biopharmaceutical company’s stock valued at $70,972,000 after acquiring an additional 229,507 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cara Therapeutics by 1.2% in the third quarter. Vanguard Group Inc. now owns 3,307,851 shares of the biopharmaceutical company’s stock valued at $30,962,000 after acquiring an additional 40,197 shares during the period. State Street Corp boosted its holdings in shares of Cara Therapeutics by 16.3% in the second quarter. State Street Corp now owns 1,954,546 shares of the biopharmaceutical company’s stock valued at $17,845,000 after acquiring an additional 273,947 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Cara Therapeutics by 41.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,444,088 shares of the biopharmaceutical company’s stock valued at $2,426,000 after acquiring an additional 421,206 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cara Therapeutics by 4.7% in the second quarter. Geode Capital Management LLC now owns 934,302 shares of the biopharmaceutical company’s stock valued at $2,644,000 after acquiring an additional 41,983 shares during the period. 44.66% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

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.