Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) – Investment analysts at William Blair issued their Q1 2023 earnings per share estimates for shares of Karuna Therapeutics in a research report issued on Thursday, May 5th. William Blair analyst M. Minter forecasts that the company will post earnings of ($1.73) per share for the quarter. William Blair also issued estimates for Karuna Therapeutics’ Q2 2023 earnings at ($1.75) EPS, Q3 2023 earnings at ($1.73) EPS and Q4 2023 earnings at ($1.83) EPS.
Other analysts have also issued reports about the company. Berenberg Bank assumed coverage on Karuna Therapeutics in a report on Thursday, March 31st. They set a “buy” rating and a $190.00 target price on the stock. Zacks Investment Research upgraded Karuna Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th. Wedbush boosted their price objective on Karuna Therapeutics from $167.00 to $176.00 and gave the company an “outperform” rating in a research report on Monday, January 24th. Jefferies Financial Group boosted their price objective on Karuna Therapeutics from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Tuesday, March 8th. Finally, Mizuho boosted their price objective on Karuna Therapeutics from $178.00 to $190.00 in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $176.22.
Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($1.95) EPS for the quarter, topping the consensus estimate of ($2.10) by $0.15. During the same period last year, the business earned ($1.10) EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRTX. ARCH Venture Management LLC acquired a new position in Karuna Therapeutics during the fourth quarter worth $381,586,000. Victory Capital Management Inc. boosted its stake in Karuna Therapeutics by 11,693.3% during the fourth quarter. Victory Capital Management Inc. now owns 282,332 shares of the company’s stock worth $36,985,000 after buying an additional 279,938 shares during the last quarter. Norges Bank acquired a new position in Karuna Therapeutics during the fourth quarter worth $27,885,000. Deep Track Capital LP acquired a new position in Karuna Therapeutics during the fourth quarter worth $17,056,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Karuna Therapeutics in the 4th quarter valued at $15,536,000. 98.22% of the stock is currently owned by institutional investors.
In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $111.14, for a total transaction of $166,710.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laurie J. Olson sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders have sold 21,496 shares of company stock valued at $2,562,418 over the last quarter. 18.10% of the stock is owned by company insiders.
About Karuna Therapeutics (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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