Karuna Therapeutics’ (KRTX) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Karuna Therapeutics (NASDAQ:KRTX) in a research note published on Friday, Benzinga reports. Wedbush currently has a $253.00 price objective on the stock.

Several other equities research analysts have also commented on the company. Mizuho reduced their price objective on Karuna Therapeutics from $274.00 to $258.00 and set a buy rating for the company in a research note on Friday, August 4th. Royal Bank of Canada reduced their target price on shares of Karuna Therapeutics from $235.00 to $225.00 and set an outperform rating for the company in a report on Friday, November 3rd. The Goldman Sachs Group lowered their price target on shares of Karuna Therapeutics from $332.00 to $296.00 and set a buy rating on the stock in a report on Friday, November 3rd. Cantor Fitzgerald restated a neutral rating and set a $214.00 price objective on shares of Karuna Therapeutics in a research report on Tuesday, August 22nd. Finally, Morgan Stanley reiterated an overweight rating and issued a $280.00 price target on shares of Karuna Therapeutics in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $259.38.

Karuna Therapeutics Trading Up 0.2 %

Karuna Therapeutics stock opened at $180.13 on Friday. The business’s fifty day simple moving average is $172.14 and its two-hundred day simple moving average is $195.40. Karuna Therapeutics has a 12 month low of $158.38 and a 12 month high of $245.00. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of -16.48 and a beta of 1.14.

Insider Transactions at Karuna Therapeutics

In related news, Director Jeffrey M. Jonas sold 13,809 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $187.93, for a total transaction of $2,595,125.37. Following the sale, the director now owns 990 shares of the company’s stock, valued at $186,050.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction on Monday, October 9th. The shares were sold at an average price of $173.24, for a total value of $866,200.00. Following the transaction, the insider now owns 31,150 shares in the company, valued at approximately $5,396,426. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey M. Jonas sold 13,809 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $187.93, for a total value of $2,595,125.37. Following the completion of the transaction, the director now directly owns 990 shares in the company, valued at $186,050.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,809 shares of company stock worth $5,270,775. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Karuna Therapeutics

Several institutional investors have recently bought and sold shares of KRTX. FMR LLC boosted its position in shares of Karuna Therapeutics by 0.6% in the third quarter. FMR LLC now owns 5,650,167 shares of the company’s stock worth $955,387,000 after buying an additional 33,579 shares during the period. Capital International Investors grew its position in Karuna Therapeutics by 17.8% in the second quarter. Capital International Investors now owns 3,992,549 shares of the company’s stock valued at $865,784,000 after acquiring an additional 602,942 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Karuna Therapeutics by 20.7% during the third quarter. Vanguard Group Inc. now owns 2,621,585 shares of the company’s stock valued at $589,672,000 after purchasing an additional 448,871 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Karuna Therapeutics by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,481,560 shares of the company’s stock worth $450,751,000 after purchasing an additional 118,256 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Karuna Therapeutics by 2.7% in the first quarter. BlackRock Inc. now owns 2,469,799 shares of the company’s stock valued at $448,614,000 after purchasing an additional 66,068 shares during the period.

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 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 various peripheral tissues and dementia-related psychosis, including Alzheimer's disease.