Karuna Therapeutics, Inc. (NASDAQ:KRTX) Receives Average Recommendation of “Hold” from Analysts

Karuna Therapeutics, Inc. (NASDAQ:KRTX) has been given an average rating of “Hold” by the sixteen analysts that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $293.92.

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

Karuna Therapeutics Stock Performance

Shares of Karuna Therapeutics stock opened at $329.83 on Monday. Karuna Therapeutics has a fifty-two week low of $158.38 and a fifty-two week high of $329.99. The company has a market cap of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. The firm has a 50-day simple moving average of $326.73 and a two-hundred day simple moving average of $277.45.

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

Insider Buying and Selling

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total value of $1,580,650.00. Following the completion of the transaction, the insider now owns 41,150 shares of the company’s stock, valued at approximately $13,008,749.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Karuna Therapeutics

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in shares of Karuna Therapeutics by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 103 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the period. Russell Investments Group Ltd. increased its position in shares of Karuna Therapeutics by 429.2% in the 4th quarter. Russell Investments Group Ltd. now owns 127 shares of the company’s stock valued at $40,000 after purchasing an additional 103 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Karuna Therapeutics by 266.7% in the 3rd quarter. Signaturefd LLC now owns 275 shares of the company’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Karuna Therapeutics by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 202 shares of the company’s stock worth $64,000 after purchasing an additional 85 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Karuna Therapeutics by 105.2% during the fourth quarter. Lindbrook Capital LLC now owns 238 shares of the company’s stock worth $75,000 after purchasing an additional 122 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.