Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $173.18.
KRTX has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Karuna Therapeutics from $182.00 to $178.00 and set a “buy” rating for the company in a research report on Thursday, March 3rd. Jefferies Financial Group boosted their target price on shares of Karuna Therapeutics from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Tuesday, March 8th. Berenberg Bank assumed coverage on shares of Karuna Therapeutics in a research report on Thursday, March 31st. They set a “buy” rating and a $190.00 price objective for the company. Zacks Investment Research raised shares of Karuna Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th. Finally, Wedbush boosted their price objective on shares of Karuna Therapeutics from $167.00 to $176.00 and gave the company an “outperform” rating in a research report on Monday, January 24th.
In related news, Director Atul Pande sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $110.80, for a total transaction of $277,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen K. Brannan sold 7,728 shares of the stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $110.05, for a total transaction of $850,466.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,184 shares of company stock valued at $3,226,671. Company insiders own 18.10% of the company’s stock.
Shares of KRTX traded down $5.63 during mid-day trading on Friday, reaching $137.70. The company had a trading volume of 156,517 shares, compared to its average volume of 200,240. The firm has a fifty day simple moving average of $116.18 and a 200-day simple moving average of $121.75. Karuna Therapeutics has a fifty-two week low of $93.77 and a fifty-two week high of $161.98.
Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.52) by $0.58. The company had revenue of $36.96 million during the quarter, compared to analyst estimates of $5.38 million. During the same quarter last year, the business earned ($0.89) EPS. As a group, equities research analysts anticipate that Karuna Therapeutics will post -7.6 earnings per share for the current year.
Karuna Therapeutics Company Profile (Get Rating)
Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate is KarXT, an oral modulator of muscarinic receptors that is in Phase III clinical trial for the treatment of acute psychosis in patients with schizophrenia; and for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of dementia-related psychosis.
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