Goldman Sachs Group Increases Karuna Therapeutics (NASDAQ:KRTX) Price Target to $109.00

Karuna Therapeutics (NASDAQ:KRTX) had its price target lifted by Goldman Sachs Group from $35.00 to $109.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “positive” rating on the stock. Goldman Sachs Group’s target price would suggest a potential upside of 5.62% from the stock’s current price.

A number of other equities analysts have also commented on KRTX. Wedbush reaffirmed a “buy” rating and issued a $38.00 price target on shares of Karuna Therapeutics in a report on Tuesday, November 12th. Zacks Investment Research cut Karuna Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Wells Fargo & Co initiated coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, Citigroup assumed coverage on Karuna Therapeutics in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $28.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Karuna Therapeutics has an average rating of “Buy” and a consensus price target of $44.80.

Shares of KRTX stock traded down $20.79 during trading on Monday, reaching $103.20. 63,954 shares of the company’s stock traded hands, compared to its average volume of 71,487. The stock has a 50-day moving average price of $18.77. Karuna Therapeutics has a 1 year low of $11.24 and a 1 year high of $152.00.

Karuna Therapeutics (NASDAQ:KRTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. On average, sell-side analysts anticipate that Karuna Therapeutics will post -2.39 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Laurion Capital Management LP bought a new position in Karuna Therapeutics in the 2nd quarter valued at $1,001,000. Citadel Advisors LLC purchased a new position in shares of Karuna Therapeutics during the 2nd quarter valued at $2,522,000. Vanguard Group Inc. bought a new position in shares of Karuna Therapeutics in the second quarter worth $1,294,000. JPMorgan Chase & Co. bought a new position in shares of Karuna Therapeutics in the second quarter worth $542,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Karuna Therapeutics in the second quarter worth $9,077,000. Institutional investors and hedge funds own 43.31% of the company’s stock.

Karuna Therapeutics Company Profile

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, primarily focuses on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical needs. The company's lead product candidate is KarXT, an oral modulator that is in Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia, as well as in Phase Ib clinical trial for the treatment of central nervous system disorders, such as cognitive and negative symptoms, Alzheimer's, and pain.

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