Analysts predict that Karuna Therapeutics (NASDAQ:KRTX) will report earnings of ($0.57) per share for the current quarter, Zacks reports. Zero analysts have provided estimates for Karuna Therapeutics’ earnings. The firm is scheduled to report its next earnings report on Thursday, February 20th.
On average, analysts expect that Karuna Therapeutics will report full year earnings of ($2.12) per share for the current fiscal year. For the next financial year, analysts forecast that the business will post earnings of ($2.94) per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Karuna Therapeutics.
Several research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Karuna Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $126.00 price objective for the company. JMP Securities started coverage on shares of Karuna Therapeutics in a research report on Thursday, January 9th. They set an “outperform” rating and a $122.00 target price for the company. Goldman Sachs Group raised their target price on shares of Karuna Therapeutics from $35.00 to $109.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Wedbush lifted their price target on shares of Karuna Therapeutics from $38.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, William Blair began coverage on shares of Karuna Therapeutics in a report on Thursday, December 12th. They issued an “outperform” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $100.11.
In other news, major shareholder Puretech Health Llc sold 2,100,000 shares of Karuna Therapeutics stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $95.67, for a total transaction of $200,907,000.00. Following the completion of the sale, the insider now directly owns 5,295,397 shares in the company, valued at $506,610,630.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Healy purchased 156,250 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $96.00 per share, with a total value of $15,000,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 158,465 shares of company stock valued at $15,155,159.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in Karuna Therapeutics by 95.2% in the 4th quarter. FMR LLC now owns 3,901,913 shares of the company’s stock worth $293,970,000 after buying an additional 1,903,322 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in Karuna Therapeutics during the third quarter worth approximately $20,579,000. Farallon Capital Management LLC bought a new position in Karuna Therapeutics during the 4th quarter worth $45,204,000. Pictet Asset Management Ltd. increased its stake in Karuna Therapeutics by 497.8% during the 4th quarter. Pictet Asset Management Ltd. now owns 298,877 shares of the company’s stock worth $22,517,000 after acquiring an additional 248,877 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Karuna Therapeutics in the 4th quarter valued at $14,537,000. Hedge funds and other institutional investors own 40.60% of the company’s stock.
About Karuna Therapeutics
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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