Karuna Therapeutics Inc. (NASDAQ:KRTX) shares traded 2.94% higher at $202.27 on Wall Street last session.
In accordance with the data, 20 analysts cover Karuna Therapeutics Inc. (NASDAQ:KRTX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $330.00 and a low of $260.00, we find $285.00. Given the previous closing price of $196.50, this indicates a potential upside of 45.04 percent. KRTX stock price is now -3.14% away from the 50-day moving average and 12.61% away from the 200-day moving average. The market capitalization of the company currently stands at $6.85B.
It has been rated a hold by 0 analysts and a buy by 20. Brokers who have rated the stock have averaged $290.21 as their price target over the next twelve months.
With the price target of $285, Piper Sandler recently initiated with Overweight rating for Karuna Therapeutics Inc. (NASDAQ: KRTX). On November 01, 2022, Loop Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $288, while ‘SVB Leerink’ rates the stock as ‘Outperform’.
In other news, Ignelzi Troy A., Chief Financial Officer sold 200 shares of the company’s stock on Jan 18. The stock was sold for $40,028 at an average price of $200.14. Upon completion of the transaction, the Chief Financial Officer now directly owns 21,837 shares in the company, valued at $4.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 17, Chief Financial Officer Ignelzi Troy A. sold 817 shares of the business’s stock. A total of $164,552 was realized by selling the stock at an average price of $201.41. This leaves the insider owning 21,837 shares of the company worth $4.42 million. Insiders disposed of 189,428 shares of company stock worth roughly $38.32 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KRTX stock. A new stake in Karuna Therapeutics Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $196,861,000. GENERAL ATLANTIC, L.P. invested $83,942,000 in shares of KRTX during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Karuna Therapeutics Inc. valued at approximately $54,229,000. BROWN ADVISORY INC acquired a new stake in KRTX for approximately $46,505,000. TWO SIGMA INVESTMENTS, LP purchased a new stake in KRTX valued at around $42,469,000 in the second quarter. In total, there are 302 active investors with 99.90% ownership of the company’s stock.
Karuna Therapeutics Inc. (NASDAQ: KRTX) opened at $195.57 on Tuesday. During the past 12 months, Karuna Therapeutics Inc. has had a low of $92.26 and a high of $278.25. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 29.90, and a quick ratio of 29.90. The fifty day moving average price for KRTX is $208.83 and a two-hundred day moving average price translates $179.63 for the stock.
The latest earnings results from Karuna Therapeutics Inc. (NASDAQ: KRTX) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$2.17, missing analysts’ expectations of -$2.09 by -0.08. This compares to -$1.72 EPS in the same period last year.
Karuna Therapeutics Inc.(KRTX) 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 is KarXT, an oral modulator of muscarinic receptors that is in Phase III clinical trial 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 dementia-related psychosis. The company also focuses on developing other muscarinic-targeted drug candidates. Karuna Therapeutics, Inc. has a license agreement with Eli Lilly and Company, and Zai Lab (Shanghai) Co., Ltd; patent license agreement with PureTech Health LLC; and drug discovery partnership with Charles River Laboratories, as well as drug discovery collaboration with PsychoGenics, Inc. The company was formerly known as Karuna Pharmaceuticals, Inc. and changed its name to Karuna Therapeutics, Inc. in March 2019. Karuna Therapeutics, Inc. was incorporated in 2009 and is headquartered in Boston, Massachusetts.