UBS raised the firm’s price target on Karuna Therapeutics (KRTX) to $330 from $197 and keeps a Neutral rating on the shares. The price target increase is in line with Bristol-Myers’ (BMY) offer price for Karuna. The firm notes that the FDA has not yet requested an AdCom for KarXT, and UBS is not concerned on KarXT’s approvability, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KRTX:
- Karuna Therapeutics downgraded to Neutral from Overweight at JPMorgan
- RayzeBio deal another ‘incremental positive’ for Bristol, says Morgan Stanley
- Karuna downgraded, Arm target raised: Wall Street’s top analyst calls
- M & A News: Bristol-Myers Squibb (NYSE:BMY) to Buy RayzeBio for $4.1B
- Karuna deal favorable for Axsome Therapeutics, says H.C. Wainwright
