Analysts Set Karuna Therapeutics, Inc. (NASDAQ:KRTX) Price Target at $293.92

Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) have received a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and six 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 $293.92.

A number of research analysts recently commented on KRTX shares. Mizuho reiterated a “neutral” rating and set a $330.00 price objective (up previously from $245.00) on shares of Karuna Therapeutics in a research note on Friday, January 26th. HC Wainwright restated a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a research report on Tuesday, February 20th.

Karuna Therapeutics Stock Performance

Shares of NASDAQ:KRTX opened at $329.83 on Monday. Karuna Therapeutics has a 52 week low of $158.38 and a 52 week 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 firm’s 50 day moving average is $326.11 and its two-hundred day moving average is $274.93.

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

Insider Buying and Selling

In related news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the completion of the transaction, the insider now owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Karuna Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of Karuna Therapeutics by 23.3% during the 4th quarter. Parallel Advisors LLC now owns 238 shares of the company’s stock valued at $75,000 after buying an additional 45 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Karuna Therapeutics by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 103 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Karuna Therapeutics by 5.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock valued at $195,000 after purchasing an additional 62 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Karuna Therapeutics by 2.1% during the 3rd quarter. Jump Financial LLC now owns 3,205 shares of the company’s stock valued at $542,000 after purchasing an additional 65 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Karuna Therapeutics by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 15,620 shares of the company’s stock valued at $2,641,000 after purchasing an additional 80 shares in 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.