Karuna Therapeutics (NASDAQ:KRTX) Price Target Increased to $109.00 by Analysts at Goldman Sachs Group

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Karuna Therapeutics (NASDAQ:KRTX) had its price target hoisted by Goldman Sachs Group from $35.00 to $109.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “positive” rating on the stock. Goldman Sachs Group’s price objective indicates a potential upside of 77.38% from the company’s previous close.

KRTX has been the topic of several other reports. Wells Fargo & Co started coverage on shares of Karuna Therapeutics in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 target price on the stock. Wedbush reiterated a “buy” rating and set a $38.00 target price on shares of Karuna Therapeutics in a research report on Tuesday, November 12th. Zacks Investment Research downgraded shares of Karuna Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Citigroup started coverage on shares of Karuna Therapeutics in a research report on Tuesday, July 23rd. They set a “buy” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $44.60.

Shares of KRTX traded up $43.77 during mid-day trading on Monday, reaching $61.45. The company had a trading volume of 285,526 shares, compared to its average volume of 71,402. The business’s 50 day moving average price is $15.02. Karuna Therapeutics has a 1-year low of $11.24 and a 1-year high of $29.00.

Karuna Therapeutics (NASDAQ:KRTX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. On average, equities analysts predict that Karuna Therapeutics will post -2.39 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in KRTX. GSA Capital Partners LLP bought a new position in Karuna Therapeutics during the 2nd quarter worth approximately $621,000. JPMorgan Chase & Co. bought a new position in Karuna Therapeutics during the 2nd quarter worth approximately $542,000. Monashee Investment Management LLC bought a new position in Karuna Therapeutics during the 2nd quarter worth approximately $2,202,000. Tiverton Asset Management LLC bought a new position in Karuna Therapeutics during the 2nd quarter worth approximately $627,000. Finally, Neuburgh Advisers LLC bought a new position in Karuna Therapeutics during the 2nd quarter worth approximately $212,000. Hedge funds and other institutional investors own 43.31% of the company’s stock.

Karuna Therapeutics Company Profile

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, primarily focuses on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical needs. The company's lead product candidate is KarXT, an oral modulator that is in Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia, as well as in Phase Ib clinical trial for the treatment of central nervous system disorders, such as cognitive and negative symptoms, Alzheimer's, and pain.

Read More: How to Invest in Growth Stocks

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