RBC Capital lowered the firm’s price target on Karuna Therapeutics to $225 from $235 but keeps an Outperform rating on the shares. The company’s Q3 earnings saw no major updates on timelines, and the key ambulatory blood pressure monitoring study is still expected later this quarter, the analyst tells investors in a research note. The ABPM study can serve as a clearing event for shares and reiterate the drug’s excellent risk/benefit profile, the firm added.
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