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Zacks: Karuna Therapeutics (NASDAQ:KRTX) Given Consensus Rating of “Strong Buy” by Analysts

Karuna Therapeutics (NASDAQ:KRTX) has received a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

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Brokers have set a 12-month consensus price objective of $63.67 for the company and are forecasting that the company will post ($0.57) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Karuna Therapeutics an industry rank of 60 out of 255 based on the ratings given to its competitors.

A number of research analysts recently commented on KRTX shares. Goldman Sachs Group boosted their price objective on shares of Karuna Therapeutics from $35.00 to $109.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Wedbush boosted their price objective on shares of Karuna Therapeutics from $38.00 to $134.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Zacks Investment Research raised shares of Karuna Therapeutics from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, November 19th.

KRTX traded up $0.41 on Monday, reaching $85.42. 9,452 shares of the company traded hands, compared to its average volume of 1,331,013. The business has a 50 day moving average price of $23.33. Karuna Therapeutics has a 52-week low of $11.24 and a 52-week high of $152.00.

Karuna Therapeutics (NASDAQ:KRTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.07. As a group, equities analysts predict that Karuna Therapeutics will post -2.12 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Sofinnova Investments Inc. bought a new stake in Karuna Therapeutics in the second quarter worth approximately $34,622,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new stake in shares of Karuna Therapeutics during the 3rd quarter worth $20,579,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Karuna Therapeutics during the 2nd quarter worth $9,077,000. Rock Springs Capital Management LP bought a new stake in shares of Karuna Therapeutics during the 2nd quarter worth $8,278,000. Finally, Vivo Capital LLC bought a new stake in shares of Karuna Therapeutics during the 2nd quarter worth $6,507,000. 43.31% of the stock is owned by institutional investors.

About Karuna Therapeutics

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, primarily focuses on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical needs. The company's lead product candidate is KarXT, an oral modulator that is in Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia, as well as in Phase Ib clinical trial for the treatment of central nervous system disorders, such as cognitive and negative symptoms, Alzheimer's, and pain.

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