Karuna Therapeutics (KRTX) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Karuna Therapeutics (KRTXResearch Report) today and set a price target of $320.00. The company’s shares closed last Friday at $277.42.

According to TipRanks, Selvaraju is an analyst with an average return of -30.1% and a 23.86% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Regulus, Aquestive Therapeutics, and Aeterna Zentaris.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Karuna Therapeutics with a $266.47 average price target, representing a -3.95% downside. In a report released on August 12, Guggenheim also maintained a Buy rating on the stock with a $330.00 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 $34.42 million

Based on the recent corporate insider activity of 34 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. Earlier this month, James Healy, a Director at KRTX bought 32,500.00 shares for a total of $520,000.00.

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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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