Karuna Therapeutics (NASDAQ:KRTX) Releases Earnings Results

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

Shares of Karuna Therapeutics stock traded down $0.51 during trading on Tuesday, hitting $71.35. The company’s stock had a trading volume of 333,179 shares, compared to its average volume of 431,685. Karuna Therapeutics has a 52 week low of $11.24 and a 52 week high of $152.00. The stock has a 50-day moving average price of $86.95 and a two-hundred day moving average price of $58.85.

In related news, major shareholder Puretech Health Llc sold 2,100,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $95.67, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Heather Preston bought 788 shares of the company’s stock in a transaction that occurred on Thursday, January 9th. The stock was purchased at an average price of $70.50 per share, for a total transaction of $55,554.00. Following the acquisition, the director now owns 2,400 shares of the company’s stock, valued at $169,200. The disclosure for this purchase can be found here. In the last three months, insiders purchased 5,265 shares of company stock worth $382,164.

KRTX has been the topic of a number of research reports. ValuEngine raised shares of Karuna Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. William Blair began coverage on shares of Karuna Therapeutics in a research note on Thursday, December 12th. They issued an “outperform” rating and a $105.00 price objective on the stock. Wells Fargo & Co boosted their price objective on shares of Karuna Therapeutics from $106.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus began coverage on shares of Karuna Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $126.00 price objective on the stock. Finally, JMP Securities began coverage on shares of Karuna Therapeutics in a research note on Thursday, January 9th. They issued an “outperform” rating and a $122.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Karuna Therapeutics presently has a consensus rating of “Buy” and a consensus 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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