Wall Street brokerages expect Karuna Therapeutics (NASDAQ:KRTX) to report earnings of ($0.57) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Karuna Therapeutics’ earnings. The company is scheduled to announce its next quarterly earnings report on Thursday, February 27th.
According to Zacks, analysts expect that Karuna Therapeutics will report full year earnings of ($2.12) per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of ($2.94) per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Karuna Therapeutics.
Several research firms recently commented on KRTX. Mizuho began coverage on Karuna Therapeutics in a research report on Wednesday, February 5th. They issued a “buy” rating and a $120.00 target price on the stock. William Blair began coverage on Karuna Therapeutics in a research report on Thursday, December 12th. They issued an “outperform” rating and a $105.00 target price on the stock. Goldman Sachs Group raised their target price on Karuna Therapeutics from $35.00 to $109.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Zacks Investment Research cut Karuna Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Co raised their target price on Karuna Therapeutics from $106.00 to $137.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $100.11.
In other Karuna Therapeutics news, major shareholder Puretech Health Llc sold 2,100,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $95.67, for a total transaction of $200,907,000.00. Following the completion of the transaction, the insider now directly owns 5,295,397 shares of the company’s stock, valued at approximately $506,610,630.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heather Preston purchased 1,427 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were purchased at an average cost of $69.80 per share, with a total value of $99,604.60. Following the completion of the purchase, the director now owns 474 shares in the company, valued at approximately $33,085.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 158,465 shares of company stock worth $15,155,159.
A number of hedge funds and other institutional investors have recently modified their holdings of KRTX. US Bancorp DE bought a new position in Karuna Therapeutics during the 4th quarter valued at $29,000. Barclays PLC bought a new position in Karuna Therapeutics during the 3rd quarter valued at $37,000. Sowell Financial Services LLC bought a new position in Karuna Therapeutics during the 4th quarter valued at $38,000. California State Teachers Retirement System bought a new position in Karuna Therapeutics during the 3rd quarter valued at $116,000. Finally, Victory Capital Management Inc. boosted its stake in Karuna Therapeutics by 100.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,028 shares of the company’s stock valued at $192,000 after purchasing an additional 1,014 shares in the last quarter. 48.74% of the stock is owned by hedge funds and other institutional investors.
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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