Zacks: Analysts Expect Karuna Therapeutics, Inc. (NASDAQ:KRTX) to Announce -$2.06 EPS

Analysts expect Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) to post ($2.06) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Karuna Therapeutics’ earnings, with the highest EPS estimate coming in at ($1.64) and the lowest estimate coming in at ($2.40). Karuna Therapeutics posted earnings per share of ($1.17) during the same quarter last year, which indicates a negative year-over-year growth rate of 76.1%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Karuna Therapeutics will report full-year earnings of ($7.78) per share for the current financial year, with EPS estimates ranging from ($8.57) to ($6.36). For the next financial year, analysts forecast that the company will post earnings of ($7.74) per share, with EPS estimates ranging from ($9.16) to ($6.16). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Karuna Therapeutics.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($1.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.10) by $0.15. During the same period last year, the firm earned ($1.10) earnings per share.

Several equities analysts recently weighed in on KRTX shares. Zacks Investment Research upgraded Karuna Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th. Mizuho increased their price objective on shares of Karuna Therapeutics from $178.00 to $190.00 in a report on Wednesday, April 27th. Wedbush boosted their target price on shares of Karuna Therapeutics from $167.00 to $176.00 and gave the company an “outperform” rating in a report on Monday, January 24th. Jefferies Financial Group upped their price target 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. Finally, Berenberg Bank started coverage on shares of Karuna Therapeutics in a report on Thursday, March 31st. They issued a “buy” rating and a $190.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Karuna Therapeutics has a consensus rating of “Buy” and a consensus price target of $176.22.

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 7,728 shares of the business’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $107.38, for a total transaction of $829,832.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laurie J. Olson sold 1,000 shares of the company’s stock in a transaction dated 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 sold 21,496 shares of company stock valued at $2,562,418 in the last three months. Company insiders own 18.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. KRS Capital Management LLC acquired a new stake in Karuna Therapeutics during the 4th quarter valued at $39,000. Advisor Group Holdings Inc. grew its stake in shares of Karuna Therapeutics by 364.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 427 shares of the company’s stock valued at $56,000 after acquiring an additional 335 shares in the last quarter. UMB Bank N A MO purchased a new stake in shares of Karuna Therapeutics during the fourth quarter worth about $72,000. Lindbrook Capital LLC purchased a new stake in shares of Karuna Therapeutics during the fourth quarter worth about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Karuna Therapeutics by 137.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 740 shares of the company’s stock worth $97,000 after acquiring an additional 429 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

KRTX stock opened at $106.87 on Friday. The firm has a market capitalization of $3.19 billion, a PE ratio of -18.49 and a beta of 2.06. Karuna Therapeutics has a 52-week low of $93.77 and a 52-week high of $161.98. The business’s fifty day simple moving average is $120.13.

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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