Cara Therapeutics Ends Mixed Month With Upgrade From Vetr Crowd

The Vetr crowd upgraded their rating Cara Therapeutics Inc CARA on Friday, from 1.5 stars (Strong Sell), issued 16 days ago, to 2.5 stars (Sell). Crowd sentiment at the time of the downgrade was generally cautious, with 66 percent of Vetr ratings bearish.

March has been very up and down for Cara Therapeutics. After reporting misses in both Q4 EPS and revenue, shares of the biotech stock dropped nearly 16 percent to a low of $14.71. The stock did rally back later in the month following successful endpoint trials of an intravenous treatment for chronic kidney disease, reaching an 18-month high of $20.60 on Wednesday.

However, the stock swiftly corrected below $19 after the company announced an offering of $80 million in shares and has continued to trend down in the final day of the month. The stock traded recently at 17.81, meeting resistance at $18.

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Currently, the Vetr crowd's average target price for Cara Therapeutics is down at $17.31, which is well below the average analyst target price of $26.60. Less than 2 percent of Vetr users are holding CARA in their watch lists.