STAMFORD, Conn. (AP) _ Cara Therapeutics Inc. (CARA) on Thursday reported fourth-quarter net income of $78.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Stamford, Connecticut-based company said it had net income of $1.59.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.
The biotechnology company posted revenue of $112.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $6.6 million.
For the year, the company reported net income of $8.4 million, or 18 cents per share, swinging to a profit in the period. Revenue was reported as $135.1 million.
Cara shares have risen 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.26, an increase of 20% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARA at https://www.zacks.com/ap/CARA
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