Karuna Therapeutics, Inc. (NASDAQ:KRTX) Given Consensus Rating of “Hold” by Brokerages

Karuna Therapeutics, Inc. (NASDAQ:KRTX) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $293.92.

KRTX has been the topic of a number of research reports. Mizuho reaffirmed a “neutral” rating and set a $330.00 target price (up from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. HC Wainwright reaffirmed a “neutral” rating and set a $330.00 target price on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $330.00 price objective on shares of Karuna Therapeutics in a research note on Tuesday, February 20th.

Karuna Therapeutics Price Performance

Karuna Therapeutics stock opened at $329.83 on Monday. Karuna Therapeutics has a 1-year low of $158.38 and a 1-year high of $329.99. The firm has a market capitalization of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. The company’s 50-day moving average is $325.66 and its 200 day moving average is $272.73.

Karuna Therapeutics (NASDAQ:KRTX) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($3.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). During the same period in the prior year, the firm earned ($2.22) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Research analysts anticipate that Karuna Therapeutics will post -11.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total value of $1,580,650.00. Following the completion of the sale, the insider now directly owns 41,150 shares in the company, valued at $13,008,749.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KRTX. SG Americas Securities LLC raised its holdings in shares of Karuna Therapeutics by 598.2% in the third quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock worth $1,141,000 after buying an additional 5,779 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Karuna Therapeutics by 34.5% in the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock worth $76,000 after buying an additional 116 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Karuna Therapeutics by 11.8% in the third quarter. Handelsbanken Fonder AB now owns 5,700 shares of the company’s stock worth $964,000 after buying an additional 600 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Karuna Therapeutics by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 210,065 shares of the company’s stock worth $35,520,000 after buying an additional 7,464 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Karuna Therapeutics by 25.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,220 shares of the company’s stock worth $883,000 after buying an additional 1,067 shares during the last quarter.

About Karuna Therapeutics

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 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.