Karuna Therapeutics (NASDAQ:KRTX) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Karuna Therapeutics (NASDAQ:KRTX) issued its quarterly earnings data on Thursday. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.07, Fidelity Earnings reports.

KRTX stock traded up $0.03 during midday trading on Friday, hitting $17.79. 62,600 shares of the company traded hands, compared to its average volume of 95,105. Karuna Therapeutics has a twelve month low of $11.24 and a twelve month high of $29.00. The firm’s 50 day simple moving average is $14.93.

Several equities analysts recently weighed in on the stock. Wells Fargo & Co assumed coverage on shares of Karuna Therapeutics in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $29.00 price objective on the stock. Citigroup assumed coverage on shares of Karuna Therapeutics in a research report on Tuesday, July 23rd. They set a “buy” rating and a $28.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Karuna Therapeutics in a research report on Friday, August 9th. Goldman Sachs Group assumed coverage on shares of Karuna Therapeutics in a research report on Tuesday, July 23rd. They set a “buy” rating and a $34.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Karuna Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $29.60.

About Karuna Therapeutics

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.

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