Karuna Therapeutics (NASDAQ:KRTX) Given $33.00 Consensus Price Target by Brokerages

Karuna Therapeutics (NASDAQ:KRTX) has received an average 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 recommendation.

Brokers have set a 12 month consensus price objective of $33.00 for the company, according to Zacks. Zacks has also given Karuna Therapeutics an industry rank of 51 out of 256 based on the ratings given to related companies.

Several equities research analysts have weighed in on KRTX shares. Wedbush began coverage on shares of Karuna Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $38.00 price target for the company. Goldman Sachs Group reiterated a “hold” rating and issued a $7.80 target price on shares of Deutsche Bank in a research note on Tuesday. Citigroup upgraded shares of SemGroup from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday. Finally, Wells Fargo & Co restated a “hold” rating and set a $130.00 price target on shares of Kimberly Clark in a research note on Tuesday.

KRTX stock traded down $0.22 during midday trading on Wednesday, hitting $20.19. The stock had a trading volume of 4,150 shares, compared to its average volume of 117,462. Karuna Therapeutics has a 1-year low of $17.26 and a 1-year high of $29.00.

In other news, Director James Healy bought 700,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were acquired at an average price of $16.00 per share, with a total value of $11,200,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Arch Venture Partners Ix, Llc bought 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $3,200,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 910,000 shares of company stock worth $14,630,400 in the last ninety days.

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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