Karuna Therapeutics (NASDAQ:KRTX) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Karuna Therapeutics (NASDAQ:KRTX) posted its earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.07, Fidelity Earnings reports.

Karuna Therapeutics stock traded up $0.03 during trading hours on Friday, hitting $17.79. 62,600 shares of the stock traded hands, compared to its average volume of 95,105. The business’s 50-day moving average price is $14.91. Karuna Therapeutics has a one year low of $11.24 and a one year high of $29.00.

Several analysts recently issued reports on the company. Wells Fargo & Co assumed coverage on Karuna Therapeutics in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price on the stock. Goldman Sachs Group assumed coverage on Karuna Therapeutics in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $34.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Karuna Therapeutics in a research note on Friday, August 9th. Zacks Investment Research cut Karuna Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Citigroup started coverage on Karuna Therapeutics in a research report on Tuesday, July 23rd. They set a “buy” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $29.60.

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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