On March 17, 2023, the cannabis stock market had both gainers and losers. Let’s look at the companies that had a good day and those that didn’t.
Gainers: BioHarvest Sciences (OTC: CNVCF) saw its shares close up 8.18% at $0.16. This Canadian-based company specializes in developing and selling cannabis-infused food and beverage products.
Village Farms Intl (NASDAQ: VFF) had a good day, with shares closing up 3.27% at $0.95. The company, headquartered in Canada, specializes in greenhouse farming of cannabis and other crops.
Losers: HEXO (NASDAQ: HEXO) had a tough day, with shares closing down 9.22% at $1.28. This Canadian company specializes in producing and selling cannabis products for both medical and recreational use.
iAnthus Capital Hldgs (OTC: ITHUF) also had a bad day, with shares closing down 6.80% at $0.02. The company operates as a holding company and provides financing and management services to licensed cannabis cultivators.
Cara Therapeutics (NASDAQ: CARA) shares closed down 5.19% at $5.48. This biopharmaceutical company is focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus.
Cipher Pharmaceuticals (OTC: CPHRF) saw its shares close down 4.73% at $2.62. The company specializes in developing and commercializing novel dermatology products.
GrowGeneration (NASDAQ: GRWG) shares closed down 4.57% at $3.55. The company sells hydroponic and organic gardening products for commercial and home use.
Cronos Group (NASDAQ: CRON) saw its shares close down 3.47% at $1.95. This Canadian company produces and sells cannabis products for both medical and recreational use.
Compass Diversified Hldgs (NYSE: CODI) shares closed down 3.44% at $17.99. This holding company invests in and manages small and middle-market businesses in various industries.
MariMed (OTC: MRMD) saw its shares close down 3.34% at $0.41. This American company provides consulting services and manages licensed cannabis facilities.
CARA Stock Performances: An Overview of Recent Trends and Forecasts
On March 17, 2023, CARA Therapeutics (NASDAQ: CARA) saw its stock close at $5.75, down slightly from its previous $5.78. The day’s trading saw CARA’s stock fluctuate between a low of $5.37 and a high of $5.76, with a volume of 1,447,309 shares. The company’s market cap was $326.9M, and its average volume over the last three months was 501,479 shares.
CARA Therapeutics had a positive earnings growth rate of 8.64% in the last year regarding growth and valuation. However, the company’s earnings growth rate for this year is negative at -9.51%, and its projected earnings growth rate for the next five years is expected to be -66.83%. Despite these projections, CARA Therapeutics experienced strong revenue growth in the last year at 81.81%.
CARA Therapeutics’ P/E ratio is unavailable, but its price/sales ratio is 13.76, and its price/book ratio is 2.05. Regarding competitors, NGM Biopharmaceuticals (NASDAQ: NGM) had a positive change of 2.15%, while Atara Biotherapeutics (NASDAQ: ATRA) saw a decrease of 2.27% in their respective stock performances. CARA’s closest competitor, Adicet Bio (NASDAQ: ACET), saw a decline of 3.63%.
Looking at CARA’s financials, the company’s next reporting date is May 8, 2023, with an EPS forecast of -$0.51 for this quarter. The company had an annual revenue of $41.9M and an annual profit of -$85.5M in the last year, resulting in a net profit margin of -204.16%.
CARA Therapeutics operates in the Health Technology sector, specifically in the Biotechnology industry. The company’s corporate headquarters are located in Stamford, Connecticut. As for forecasts, CARA’s chart shows an essentially flat trend but with the potential for small fluctuations in the coming days and weeks.
CARA Therapeutics’ stock performance has been somewhat mixed recently, with earnings growth rates and net profit margin fluctuations. Nevertheless, the company has experienced strong revenue growth and operates in a promising sector. Investors should consider the company’s financials and forecasts before deciding on CARA’s stock.
CARA Stock Price Overview
Cara Therapeutics Inc. (CARA) has been garnering attention among investors, especially after the recent forecast of its stock price. According to reports, eight analysts have offered their 12-month price forecasts for the company, and the median target is 19.00 USD. The high estimate is 28.00 USD, while the low estimate is 6.00 USD. Considering the median estimate, it represents a whopping 246.72% increase from the last price of 5.48 USD.
It’s not only the price forecast drawing investors’ attention toward CARA. The consensus among eight polled investment analysts is to buy stock in Cara Therapeutics Inc. This rating had held steady since March, when it was unchanged from a buy rating. It’s worth noting that the company has been making significant progress in the biotech industry, leading to increased optimism among investors.
However, investors must also know the company’s financials and performance before making investment decisions. As per the latest financial report, CARA’s annual revenue last year was 41.9 million USD, with a yearly loss of 85.5 million USD. The net profit margin was -204.16%, indicating the company is not profitable.
The company’s financials and progress and growth prospects have contributed to the analysts’ optimistic forecast for CARA’s stock price. While it’s always wise to consider the risks involved with any investment, the positive sentiment around CARA could indicate its potential for long-term growth. Investors must also closely watch the biotech industry as it continues to evolve and present new opportunities.