StockNews.com Initiates Coverage on Cara Therapeutics (NASDAQ:CARA)

Stock analysts at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.33 on Wednesday. The firm has a market capitalization of $17.97 million, a P/E ratio of -0.16 and a beta of 0.68. The firm’s 50-day moving average price is $0.29 and its 200-day moving average price is $0.40. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.31.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.26 million. Equities research analysts forecast that Cara Therapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,718 shares of the biopharmaceutical company’s stock after acquiring an additional 120,660 shares during the period. Disciplined Growth Investors Inc. MN owned approximately 3.54% of Cara Therapeutics worth $499,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.