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

Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $293.92.

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

Insider Buying and Selling

In other news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $318.34, for a total value of $1,591,700.00. Following the completion of the sale, the insider now directly owns 42,604 shares of the company’s stock, valued at $13,562,557.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 13.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Karuna Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KRTX. SG Americas Securities LLC grew its holdings in Karuna Therapeutics by 598.2% in the 3rd quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock valued at $1,141,000 after buying an additional 5,779 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Karuna Therapeutics by 34.5% during the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock worth $76,000 after acquiring an additional 116 shares during the period. Handelsbanken Fonder AB raised its stake in Karuna Therapeutics by 11.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 5,700 shares of the company’s stock worth $964,000 after purchasing an additional 600 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Karuna Therapeutics by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 210,065 shares of the company’s stock valued at $35,520,000 after purchasing an additional 7,464 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Karuna Therapeutics by 25.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,220 shares of the company’s stock worth $883,000 after purchasing an additional 1,067 shares in the last quarter.

Karuna Therapeutics Stock Performance

NASDAQ KRTX opened at $329.83 on Monday. The stock has a market capitalization of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. Karuna Therapeutics has a 52 week low of $158.38 and a 52 week high of $329.99. The stock has a fifty day moving average of $326.54 and a 200-day moving average of $275.69.

Karuna Therapeutics (NASDAQ:KRTX) last announced 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 period in the previous year, the business posted ($2.22) earnings per share. Karuna Therapeutics’s revenue was down 100.0% on a year-over-year basis. Equities research analysts forecast that Karuna Therapeutics will post -11.96 earnings per share for the current fiscal year.

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.