Karuna Therapeutics, Inc. (NASDAQ: KRTX – Get Rating) has received a consensus “Buy” recommendation from the twelve brokerages that currently cover the company, MarketBeat.com reports. One equity research analyst gave the stock a hold rating and eleven gave the company a buy rating. The 1-year average target price among brokers who have hedged the stock over the past year is $173.18.
KRTX has been the subject of several research analyst reports. Mizuho lowered his price target on Karuna Therapeutics shares from $182.00 to $178.00 and set a “buy” rating for the company in a Thursday, March 3 research report. Jefferies Financial Group raised its price target on Karuna Therapeutics shares from $180.00 to $183.00 and gave the stock a “buy” rating in a Tuesday, March 8 research report. Berenberg Bank assumed coverage for Karuna Therapeutics shares in a Thursday, March 31 research report. They set a “buy” rating and a price target of $190.00 for the company. Zacks Investment Research upgraded shares of Karuna Therapeutics from a “sell” rating to a “hold” rating in a Tuesday, March 8 research report. Finally, Wedbush raised its price target on Karuna Therapeutics shares from $167.00 to $176.00 and gave the company an “outperform” rating in a Monday, Jan. 24 research report.
In related news, director Atul Pande sold 2,500 shares in a trade that took place on Tuesday, February 1. 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, accessible via this link. Additionally, insider Stephen K. Brannan sold 7,728 shares in a trade that took place on Tuesday, February 1. The shares were sold at an average price of $110.05, for a total transaction of $850,466.40. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 28,184 shares of the company valued at $3,226,671. Insiders of the company own 18.10% of the shares of the company.
A number of hedge funds have recently increased or reduced their holdings in the stock. ARCH Venture Management LLC acquired a new equity stake in Karuna Therapeutics during the fourth quarter valued at approximately $381,586,000. BlackRock Inc. increased its holdings of Karuna Therapeutics shares by 3.5% during the fourth quarter. BlackRock Inc. now owns 1,638,617 shares of the company valued at $214,659,000 after acquiring an additional 55,120 shares during the period. Wellington Management Group LLP increased its equity stake in Karuna Therapeutics by 5.8% during the third quarter. Wellington Management Group LLP now owns 1,001,886 shares of the company valued at $122,560,000 after acquiring an additional 55,305 shares during the period. Viking Global Investors LP increased its holdings of Karuna Therapeutics shares by 5.6% during the third quarter. Viking Global Investors LP now owns 868,696 shares of the company valued at $106,268,000 after acquiring an additional 46,231 shares during the period. Finally, Farallon Capital Management LLC increased its equity stake in Karuna Therapeutics by 11.1% during the third quarter. Farallon Capital Management LLC now owns 700,000 shares of the company valued at $85,631,000 after acquiring an additional 70,000 shares during the period. 93.21% of the shares are held by institutional investors and hedge funds.
Shares of KRTX traded at $5.63 at midday on Friday, hitting $137.70. The company had a trading volume of 156,517 shares, compared to an average volume of 200,240. The company 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 reported quarterly results on Thursday, February 24. The company reported ($0.94) earnings per share for the quarter, beating the Zacks consensus estimate of ($1.52) by $0.58. The company posted revenue of $36.96 million in the quarter, versus analyst estimates of $5.38 million. In the same quarter last year, the company achieved EPS of ($0.89). As a group, equity research analysts expect Karuna Therapeutics to post earnings per share of -7.6 for the current year.
Karuna Therapeutics Company Profile (Get an evaluation)
Karuna Therapeutics, Inc., a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological disorders. Its lead product candidate is KarXT, an oral muscarinic receptor modulator that is in a 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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