-$1.42 EPS Expected for Karuna Therapeutics, Inc. (NASDAQ:KRTX) This Quarter

Brokerages predict that Karuna Therapeutics, Inc. (NASDAQ:KRTX) will announce earnings per share (EPS) of ($1.42) for the current quarter, according to Zacks. Zero analysts have issued estimates for Karuna Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.65) and the highest estimate coming in at ($1.06). Karuna Therapeutics posted earnings per share of ($0.71) in the same quarter last year, which would suggest a negative year over year growth rate of 100%. The business is scheduled to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Karuna Therapeutics will report full-year earnings of ($5.55) per share for the current financial year, with EPS estimates ranging from ($6.68) to ($4.18). For the next year, analysts expect that the business will report earnings of ($6.27) per share, with EPS estimates ranging from ($9.07) to ($4.69). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Karuna Therapeutics.

Karuna Therapeutics (NASDAQ:KRTX) last released its earnings results on Thursday, August 5th. The company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.17.

KRTX has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Karuna Therapeutics in a report on Monday, August 30th. They set a “buy” rating and a $152.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Karuna Therapeutics from $164.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, June 23rd. They noted that the move was a valuation call. Finally, Jefferies Financial Group began coverage on shares of Karuna Therapeutics in a research note on Wednesday, July 28th. They set a “buy” rating and a $158.00 price objective on the stock. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $154.91.

In other news, Director Atul Pande sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $117.82, for a total transaction of $294,550.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at $294,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Healy purchased 636 shares of the firm’s stock in a transaction dated Friday, July 2nd. The stock was acquired at an average price of $117.80 per share, with a total value of $74,920.80. The disclosure for this purchase can be found here. Insiders have sold a total of 16,000 shares of company stock valued at $1,803,175 in the last quarter. 15.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. bought a new position in shares of Karuna Therapeutics in the first quarter worth about $43,000. O Shaughnessy Asset Management LLC bought a new position in shares of Karuna Therapeutics in the second quarter worth about $62,000. FORA Capital LLC bought a new position in shares of Karuna Therapeutics in the first quarter worth about $67,000. Dark Forest Capital Management LP bought a new position in shares of Karuna Therapeutics in the second quarter worth about $81,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Karuna Therapeutics by 17.5% in the second quarter. Great West Life Assurance Co. Can now owns 1,047 shares of the company’s stock worth $119,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.

Karuna Therapeutics stock traded up $0.64 during trading hours on Wednesday, hitting $115.95. The company had a trading volume of 3,454 shares, compared to its average volume of 177,318. The firm has a market capitalization of $3.43 billion, a P/E ratio of -30.27 and a beta of 1.80. Karuna Therapeutics has a fifty-two week low of $74.06 and a fifty-two week high of $146.97. The firm’s fifty day moving average is $114.50 and its 200-day moving average is $116.41.

About Karuna Therapeutics

Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company, which engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.

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Earnings History and Estimates for Karuna Therapeutics (NASDAQ:KRTX)

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