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Karuna Therapeutics (KRTX) Gets a Buy from Maxim Group

Maxim Group analyst Jason McCarthy maintained a Buy rating on Karuna Therapeutics (KRTXResearch Report) yesterday and set a price target of $300.00. The company’s shares closed yesterday at $212.41.

McCarthy covers the Healthcare sector, focusing on stocks such as Immutep, Actinium Pharmaceuticals, and Adial Pharmaceuticals. According to TipRanks, McCarthy has an average return of -40.0% and a 13.32% success rate on recommended stocks.

Currently, the analyst consensus on Karuna Therapeutics is a Strong Buy with an average price target of $286.63, a 34.94% upside from current levels. In a report released on November 4, Wells Fargo also maintained a Buy rating on the stock with a $262.00 price target.

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Based on Karuna Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.28 million and a GAAP net loss of $64.94 million. In comparison, last year the company had a GAAP net loss of $50.93 million

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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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