Equities analysts predict that Karuna Therapeutics (NASDAQ:KRTX) will post earnings of ($0.57) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Karuna Therapeutics’ earnings. The company is expected to report its next quarterly earnings report on Thursday, February 20th.
On average, analysts expect that Karuna Therapeutics will report full-year earnings of ($2.12) per share for the current year. For the next year, analysts anticipate that the firm will report earnings of ($2.94) per share. Zacks’ EPS calculations are an average based on a survey of research firms that follow Karuna Therapeutics.
KRTX has been the topic of a number of analyst reports. Wedbush lifted their price objective on Karuna Therapeutics from $38.00 to $134.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Mizuho began coverage on Karuna Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $120.00 target price for the company. William Blair began coverage on Karuna Therapeutics in a report on Thursday, December 12th. They issued an “outperform” rating and a $105.00 price target for the company. Wells Fargo & Co raised their price target on Karuna Therapeutics from $106.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Zacks Investment Research downgraded Karuna Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.11.
NASDAQ KRTX traded up $3.61 during trading hours on Friday, hitting $99.72. 213,200 shares of the stock were exchanged, compared to its average volume of 517,613. Karuna Therapeutics has a 12-month low of $11.24 and a 12-month high of $152.00. The stock has a 50-day moving average of $88.69 and a 200 day moving average of $46.64.
In other news, Director James Healy acquired 156,250 shares of Karuna Therapeutics stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $96.00 per share, with a total value of $15,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Puretech Health Llc sold 2,100,000 shares of Karuna Therapeutics stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $95.67, for a total value of $200,907,000.00. Following the transaction, the insider now directly owns 5,295,397 shares of the company’s stock, valued at $506,610,630.99. The disclosure for this sale can be found here. Insiders bought a total of 158,465 shares of company stock valued at $15,155,159 in the last quarter.
Several hedge funds have recently made changes to their positions in KRTX. Vanguard Group Inc. purchased a new position in Karuna Therapeutics during the 2nd quarter valued at about $1,294,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new stake in shares of Karuna Therapeutics in the third quarter valued at about $20,579,000. State Street Corp purchased a new stake in shares of Karuna Therapeutics in the third quarter valued at about $985,000. Pictet Asset Management Ltd. purchased a new stake in shares of Karuna Therapeutics in the third quarter valued at about $816,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Karuna Therapeutics in the third quarter valued at approximately $116,000. Institutional investors and hedge funds own 40.60% of the company’s stock.
Karuna Therapeutics Company Profile
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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