Karuna Therapeutics, Inc. (NASDAQ:KRTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $260.50.

KRTX has been the subject of a number of research analyst reports. Mizuho decreased their price target on Karuna Therapeutics from $274.00 to $258.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Royal Bank of Canada decreased their target price on Karuna Therapeutics from $249.00 to $235.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. JPMorgan Chase & Co. decreased their target price on Karuna Therapeutics from $260.00 to $250.00 in a research report on Monday, June 5th. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Karuna Therapeutics in a research report on Friday, August 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $214.00 target price on shares of Karuna Therapeutics in a research report on Tuesday, August 22nd.

Karuna Therapeutics Stock Performance

Shares of NASDAQ:KRTX opened at $180.90 on Friday. The business’s 50 day simple moving average is $189.59 and its two-hundred day simple moving average is $200.96. The firm has a market cap of $6.81 billion, a P/E ratio of -17.82 and a beta of 1.06. Karuna Therapeutics has a 52-week low of $159.73 and a 52-week high of $245.00.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($2.75) EPS for the quarter, topping the consensus estimate of ($2.76) by $0.01. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.42 million. Karuna Therapeutics had a negative return on equity of 27.13% and a negative net margin of 2,795.96%. The company’s quarterly revenue was down 98.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.17) earnings per share. On average, equities analysts forecast that Karuna Therapeutics will post -11.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Karuna Therapeutics news, Director Jeffrey M. Jonas sold 13,810 shares of Karuna Therapeutics stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $195.81, for a total transaction of $2,704,136.10. Following the completion of the sale, the director now owns 990 shares of the company’s stock, valued at $193,851.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jeffrey M. Jonas sold 13,810 shares of Karuna Therapeutics stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $195.81, for a total value of $2,704,136.10. Following the transaction, the director now owns 990 shares in the company, valued at $193,851.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Laurie J. Olson sold 1,000 shares of Karuna Therapeutics stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $215.65, for a total value of $215,650.00. Following the completion of the transaction, the director now owns 990 shares in the company, valued at approximately $213,493.50. The disclosure for this sale can be found here. Insiders sold a total of 35,119 shares of company stock valued at $6,697,791 over the last 90 days. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in Karuna Therapeutics by 57.3% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. PNC Financial Services Group Inc. increased its holdings in Karuna Therapeutics by 87.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 152 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the period. Ameriprise Financial Inc. boosted its position in Karuna Therapeutics by 3.9% during the 1st quarter. Ameriprise Financial Inc. now owns 2,107 shares of the company’s stock valued at $383,000 after acquiring an additional 79 shares in the last quarter. Sei Investments Co. boosted its position in Karuna Therapeutics by 0.9% during the 1st quarter. Sei Investments Co. now owns 9,755 shares of the company’s stock valued at $1,772,000 after acquiring an additional 87 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Karuna Therapeutics by 1.9% during the 4th quarter. Amalgamated Bank now owns 4,962 shares of the company’s stock valued at $975,000 after acquiring an additional 93 shares in the last quarter.

Karuna Therapeutics Company Profile

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 includes 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 various peripheral tissues and dementia-related psychosis, including Alzheimer's disease.