William Blair Reiterates a Buy Rating on Karuna Therapeutics (KRTX)

By Ryan Adsit

In a report issued on July 28, Myles Minter from William Blair reiterated a Buy rating on Karuna Therapeutics (KRTXResearch Report). The company’s shares closed last Friday at $81.99.

According to TipRanks.com, Minter is a 4-star analyst with an average return of 37.8% and a 52.6% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Minerva Neurosciences, and Translate Bio.

Currently, the analyst consensus on Karuna Therapeutics is a Strong Buy with an average price target of $129.00, which is a 56.8% upside from current levels. In a report issued on July 14, Mizuho Securities also reiterated a Buy rating on the stock with a $116.00 price target.

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The company has a one-year high of $152.00 and a one-year low of $11.24. Currently, Karuna Therapeutics has an average volume of 232.1K.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KRTX in relation to earlier this year.

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Karuna Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company develops treatments for people afflicted with schizophrenia. Karuna Therapeutics was founded in July 2009 by Andrew Miller, Eric Elenko and Peter Jeffrey Conn and is headquartered in Boston, MA.