Karuna Therapeutics (NASDAQ:KRTX) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Karuna Therapeutics (NASDAQ:KRTX) posted its earnings results on Tuesday. The company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.16, Briefing.com reports.

NASDAQ KRTX traded down $0.51 during trading hours on Tuesday, reaching $71.35. 333,179 shares of the stock traded hands, compared to its average volume of 431,685. The stock has a 50 day simple moving average of $86.95 and a two-hundred day simple moving average of $58.85. Karuna Therapeutics has a 1 year low of $11.24 and a 1 year high of $152.00.

In other news, Director Heather Preston bought 788 shares of the business’s stock in a transaction on Thursday, January 9th. The stock was acquired at an average price of $70.50 per share, with a total value of $55,554.00. Following the completion of the purchase, the director now directly owns 2,400 shares in the company, valued at $169,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Puretech Health Llc sold 2,100,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $95.67, for a total transaction of $200,907,000.00. Following the transaction, the insider now owns 5,295,397 shares in the company, valued at $506,610,630.99. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 5,265 shares of company stock valued at $382,164.

A number of equities analysts have weighed in on the company. William Blair began coverage on Karuna Therapeutics in a research note on Thursday, December 12th. They issued an “outperform” rating and a $105.00 target price on the stock. Stifel Nicolaus initiated coverage on Karuna Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $126.00 price target for the company. Zacks Investment Research lowered Karuna Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Mizuho restated a “buy” rating and issued a $120.00 price objective on shares of Karuna Therapeutics in a research report on Tuesday. Finally, JMP Securities assumed coverage on shares of Karuna Therapeutics in a research note on Thursday, January 9th. They issued an “outperform” rating and a $122.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $100.11.

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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