Karuna Therapeutics assumed with a Buy at Mizuho

Mizuho analyst Graig Suvannavejh assumed coverage of Karuna Therapeutics with a Buy rating and price target of $270, down from $276. The analyst is "incredibly bullish" on KarXT and the entire muscarinic class, which he says has potential to revolutionize the treatment paradigm in psychiatry. The muscarinics, led by KarXT, which currently enjoys first-mover advantage, represent a "potential game changer," says the analyst, who expects widespread adoption by clinicians.