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

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

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

Karuna Therapeutics Trading Up 0.0 %

Shares of NASDAQ:KRTX opened at $329.83 on Monday. The stock’s 50-day moving average price is $325.66 and its 200-day moving average price is $272.73. Karuna Therapeutics has a 12-month low of $158.38 and a 12-month high of $329.99. 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 (NASDAQ:KRTX) last announced its quarterly earnings data 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). During the same quarter in the previous year, the company earned ($2.22) earnings per share. Karuna Therapeutics’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, research analysts predict that Karuna Therapeutics will post -11.96 EPS for the current year.

Insiders Place Their Bets

In other Karuna Therapeutics 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 transaction 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 $13,562,557.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Karuna Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in KRTX. Norges Bank bought a new position in shares of Karuna Therapeutics during the fourth quarter valued at approximately $103,836,000. Rhenman & Partners Asset Management AB increased its stake in shares of Karuna Therapeutics by 734.3% during the third quarter. Rhenman & Partners Asset Management AB now owns 292,000 shares of the company’s stock valued at $49,374,000 after purchasing an additional 257,000 shares in the last quarter. Capital International Investors increased its stake in shares of Karuna Therapeutics by 5.9% during the fourth quarter. Capital International Investors now owns 4,227,102 shares of the company’s stock valued at $1,337,920,000 after purchasing an additional 236,491 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Karuna Therapeutics during the fourth quarter valued at approximately $70,582,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Karuna Therapeutics by 193.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 315,892 shares of the company’s stock valued at $99,983,000 after acquiring an additional 208,093 shares in the last quarter.

Karuna Therapeutics Company Profile

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.