Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) has been given a consensus rating of "Buy" by the fifteen analysts that are covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $252.07.

KRTX has been the topic of several research reports. HC Wainwright increased their target price on Karuna Therapeutics from $160.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, August 15th. The Goldman Sachs Group raised their price objective on Karuna Therapeutics from $228.00 to $278.00 and gave the company a "buy" rating in a research report on Tuesday, August 9th. SVB Leerink raised their target price on Karuna Therapeutics from $170.00 to $270.00 and gave the company an "outperform" rating in a research note on Tuesday, August 9th. Royal Bank of Canada lifted their price target on Karuna Therapeutics from $292.00 to $293.00 in a research note on Thursday. Finally, Bank of America lifted their price target on Karuna Therapeutics from $160.00 to $261.00 and gave the stock a "buy" rating in a research note on Tuesday, August 9th.

Insider Transactions at Karuna Therapeutics

In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $227.83, for a total value of $3,759,195.00. Following the completion of the sale, the chief financial officer now directly owns 24,970 shares in the company, valued at $5,688,915.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the company's stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $227.83, for a total value of $3,759,195.00. Following the completion of the sale, the chief financial officer now directly owns 24,970 shares in the company, valued at $5,688,915.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laurie J. Olson sold 1,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $267.59, for a total value of $267,590.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,500 shares of company stock worth $12,945,435. Company insiders own 16.20% of the company's stock.

Institutional Trading of Karuna Therapeutics

Karuna Therapeutics Trading Up 0.2 %

Shares of KRTX stock opened at $224.93 on Friday. The company has a market cap of $6.74 billion, a price-to-earnings ratio of -33.18 and a beta of 1.21. The stock has a 50 day simple moving average of $224.84 and a 200-day simple moving average of $155.55. Karuna Therapeutics has a 12-month low of $92.26 and a 12-month high of $278.25.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last announced its earnings results on Monday, August 8th. The company reported ($2.17) EPS for the quarter, missing analysts' consensus estimates of ($2.02) by ($0.15). The business had revenue of $5.28 million during the quarter. On average, equities analysts forecast that Karuna Therapeutics will post -8 earnings per share for the current fiscal year.

About Karuna Therapeutics

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Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate is KarXT, an oral modulator of muscarinic receptors that is in Phase III clinical trial for the treatment of acute psychosis in patients with schizophrenia; and for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of dementia-related psychosis.

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