Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating) – Analysts at HC Wainwright reduced their Q2 2023 earnings estimates for shares of Cara Therapeutics in a research report issued to clients and investors on Tuesday, May 16th. HC Wainwright analyst O. Livnat now forecasts that the biopharmaceutical company will post earnings of ($0.60) per share for the quarter, down from their previous estimate of ($0.45). The consensus estimate for Cara Therapeutics’ current full-year earnings is ($1.64) per share. HC Wainwright also issued estimates for Cara Therapeutics’ Q3 2023 earnings at ($0.62) EPS, Q4 2023 earnings at ($0.50) EPS, FY2023 earnings at ($2.21) EPS, FY2024 earnings at ($0.80) EPS, FY2025 earnings at ($0.53) EPS and FY2026 earnings at $1.04 EPS.
Cara Therapeutics (NASDAQ:CARA – Get Rating) last issued its quarterly earnings data on Monday, March 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.23). Cara Therapeutics had a negative return on equity of 49.31% and a negative net margin of 195.16%. The firm had revenue of $3.26 million for the quarter, compared to the consensus estimate of $14.03 million.
Cara Therapeutics Price Performance
NASDAQ CARA opened at $3.85 on Thursday. The stock’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $8.65. Cara Therapeutics has a one year low of $3.79 and a one year high of $12.98. The firm has a market cap of $207.78 million, a PE ratio of -2.47 and a beta of 0.88.
Hedge Funds Weigh In On Cara Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in CARA. JPMorgan Chase & Co. raised its stake in Cara Therapeutics by 10.6% during the 1st quarter. JPMorgan Chase & Co. now owns 76,193 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 7,283 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Cara Therapeutics by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 48,648 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 2,500 shares in the last quarter. State Street Corp raised its holdings in Cara Therapeutics by 7.1% during the 1st quarter. State Street Corp now owns 1,902,942 shares of the biopharmaceutical company’s stock worth $9,343,000 after buying an additional 126,219 shares during the period. Squarepoint Ops LLC bought a new position in Cara Therapeutics in the first quarter valued at approximately $961,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Cara Therapeutics by 4.1% in the first quarter. Geode Capital Management LLC now owns 892,319 shares of the biopharmaceutical company’s stock valued at $4,381,000 after buying an additional 34,984 shares during the period. 69.26% of the stock is owned by institutional investors.
Cara Therapeutics Company Profile
CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.
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