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JMP Securities Sticks to Its Buy Rating for Karuna Therapeutics (KRTX)

In a report released today, Jason Butler from JMP Securities reiterated a Buy rating on Karuna Therapeutics (KRTXResearch Report), with a price target of $315.00. The company’s shares opened today at $220.92.

Butler covers the Healthcare sector, focusing on stocks such as Concert Pharma, Aquestive Therapeutics, and Gamida Cell. According to TipRanks, Butler has an average return of -4.9% and a 41.42% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Karuna Therapeutics with a $202.44 average price target, representing a (8.37)% downside. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $190.00 price target.

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Based on Karuna Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly a GAAP net loss of $58.22 million. In comparison, last year the company had a GAAP net loss of $30.5 million

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KRTX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Karuna Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It 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 develops treatments for people afflicted with schizophrenia. Karuna Therapeutics was founded in July 2009 by Andrew Miller, Eric Elenko and Peter Jeffrey Conn and is headquartered in Boston, MA.

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