Karuna Therapeutics (NASDAQ:KRTX) Stock Rating Reaffirmed by William Blair

Karuna Therapeutics (NASDAQ:KRTX)‘s stock had its “buy” rating restated by equities researchers at William Blair in a note issued to investors on Friday, AnalystRatings.com reports.

A number of other research firms also recently weighed in on KRTX. Zacks Investment Research downgraded shares of Karuna Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Stifel Nicolaus raised their target price on shares of Karuna Therapeutics from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Oppenheimer raised their target price on shares of Karuna Therapeutics from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. ValuEngine downgraded shares of Karuna Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Goldman Sachs Group raised their target price on shares of Karuna Therapeutics from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $117.00.

Shares of KRTX stock traded down $0.26 during trading hours on Friday, hitting $81.80. 136,853 shares of the company were exchanged, compared to its average volume of 138,122. The business has a 50 day moving average of $98.01 and a two-hundred day moving average of $88.46. The company has a quick ratio of 145.80, a current ratio of 145.80 and a debt-to-equity ratio of 0.01. Karuna Therapeutics has a 52 week low of $11.24 and a 52 week high of $152.00.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.05. As a group, equities research analysts predict that Karuna Therapeutics will post -1.97 earnings per share for the current fiscal year.

In other news, insider Stephen K. Brannan sold 7,728 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $108.53, for a total transaction of $838,719.84. Following the completion of the sale, the insider now owns 15,000 shares in the company, valued at approximately $1,627,950. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Andrew Craig Miller sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $90.64, for a total transaction of $2,266,000.00. Following the sale, the chief operating officer now owns 25,000 shares of the company’s stock, valued at approximately $2,266,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 977,996 shares of company stock valued at $87,382,948. Corporate insiders own 18.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Karuna Therapeutics by 139.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 910 shares of the company’s stock worth $66,000 after buying an additional 530 shares during the last quarter. US Bancorp DE lifted its stake in shares of Karuna Therapeutics by 172.5% during the 1st quarter. US Bancorp DE now owns 1,049 shares of the company’s stock worth $76,000 after buying an additional 664 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Karuna Therapeutics by 86.7% during the 1st quarter. Legal & General Group Plc now owns 1,630 shares of the company’s stock worth $117,000 after buying an additional 757 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Karuna Therapeutics by 100.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,028 shares of the company’s stock worth $192,000 after buying an additional 1,014 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of Karuna Therapeutics by 125.0% during the 1st quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $194,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 63.86% 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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Analyst Recommendations for Karuna Therapeutics (NASDAQ:KRTX)

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