H.C. Wainwright analyst Raghuram Selvaraju downgraded Karuna Therapeutics (KRTX) to Neutral from Buy with a price target of $330, up from $300, after Bristol Myers (BMY) agreed to buy the company for $330 per share. The analyst believes Karuna’s acquisition bodes well for Axsome Therapeutics (AXSM) and Reviva Pharmaceuticals (RVPH). Both Axsome and Reviva “may now be increasingly in the crosshairs of entities seeking to bulk up in neurology,” the analyst tells investors in a research note.
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Read More on KRTX:
- Karuna Therapeutics downgraded to Equal Weight from Overweight at Wells Fargo
- Karuna Therapeutics downgraded to Market Perform from Outperform at Leerink
- Karuna Therapeutics downgraded to Hold from Buy at Deutsche Bank
- Karuna Therapeutics downgraded to Neutral from Overweight at Piper Sandler
- Karuna Therapeutics downgraded to Hold from Buy at Maxim
