Karuna Therapeutics, Inc. (NASDAQ:KRTX) Receives $293.92 Consensus Target Price from Analysts

Karuna Therapeutics, Inc. (NASDAQ:KRTX - Get Free Report) has earned a consensus recommendation of "Hold" from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $293.92.

Several equities analysts have issued reports on KRTX shares. HC Wainwright reiterated a "neutral" rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Guggenheim restated a "neutral" rating on shares of Karuna Therapeutics in a research report on Friday, December 22nd. Morgan Stanley reaffirmed an "equal weight" rating and set a $330.00 price objective (up from $295.00) on shares of Karuna Therapeutics in a research note on Friday, December 22nd. William Blair cut Karuna Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, December 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research note on Tuesday, February 20th.

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 on Thursday, February 8th. The stock was sold at an average price of $316.13, for a total transaction of $1,580,650.00. Following the transaction, the insider now owns 41,150 shares in the company, valued at approximately $13,008,749.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Stephen K. Brannan sold 15,000 shares of Karuna Therapeutics stock in a transaction on Monday, January 8th. The stock was sold at an average price of $316.81, for a total value of $4,752,150.00. Following the transaction, the insider now owns 38,650 shares in the company, valued at approximately $12,244,706.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction 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 in the company, valued at approximately $13,008,749.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $7,924,500 in the last 90 days. Company insiders own 13.20% of the company's stock.

Hedge Funds Weigh In On Karuna Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Karuna Therapeutics by 72.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 202 shares of the company's stock valued at $64,000 after purchasing an additional 85 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Karuna Therapeutics by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,224,786 shares of the company's stock valued at $1,020,677,000 after acquiring an additional 21,201 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Karuna Therapeutics by 470.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 201,270 shares of the company's stock valued at $63,704,000 after acquiring an additional 166,001 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Karuna Therapeutics during the 4th quarter valued at $4,138,000. Finally, Cim Investment Management Inc. acquired a new stake in shares of Karuna Therapeutics during the 4th quarter valued at $232,000.

Karuna Therapeutics Price Performance

Shares of NASDAQ:KRTX remained flat at $329.83 during trading on Thursday. The stock had a trading volume of 5 shares, compared to its average volume of 832,048. Karuna Therapeutics has a one year low of $158.38 and a one year 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. The company has a fifty day moving average price of $320.97 and a two-hundred day moving average price of $253.02.

Karuna Therapeutics (NASDAQ:KRTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($3.01) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.36). The company's revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.22) earnings per share. As a group, analysts forecast that Karuna Therapeutics will post -11.96 earnings per share for the current 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.