Brokerages Expect Karuna Therapeutics, Inc. (NASDAQ:KRTX) Will Post Earnings of -$1.06 Per Share


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Wall Street brokerages expect that Karuna Therapeutics, Inc. (NASDAQ:KRTX) will post ($1.06) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Karuna Therapeutics’ earnings. The highest EPS estimate is ($0.81) and the lowest is ($1.20). Karuna Therapeutics posted earnings of ($0.33) per share during the same quarter last year, which indicates a negative year over year growth rate of 221.2%. The business is scheduled to report its next quarterly earnings report on Thursday, May 6th.

According to Zacks, analysts expect that Karuna Therapeutics will report full-year earnings of ($4.87) per share for the current fiscal year, with EPS estimates ranging from ($6.47) to ($3.10). For the next financial year, analysts expect that the firm will post earnings of ($5.23) per share, with EPS estimates ranging from ($7.88) to ($3.61). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Karuna Therapeutics.

Karuna Therapeutics (NASDAQ:KRTX) last released its quarterly earnings data on Thursday, February 25th. The company reported ($0.89) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.89).

KRTX has been the subject of a number of analyst reports. Maxim Group reissued a “buy” rating on shares of Karuna Therapeutics in a research report on Friday, February 26th. JMP Securities raised their target price on shares of Karuna Therapeutics from $122.00 to $167.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 4th. Zacks Investment Research upgraded shares of Karuna Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 16th. William Blair restated a “buy” rating on shares of Karuna Therapeutics in a research note on Tuesday, January 5th. Finally, HC Wainwright raised their target price on shares of Karuna Therapeutics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $145.09.

In other news, major shareholder Puretech Health Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $118.00, for a total value of $118,000,000.00. Following the completion of the transaction, the insider now directly owns 2,406,564 shares in the company, valued at approximately $283,974,552. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Atul Pande sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $110.61, for a total transaction of $276,525.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at $276,525. The disclosure for this sale can be found here. Insiders sold a total of 1,015,000 shares of company stock valued at $119,740,050 over the last 90 days. Corporate insiders own 18.10% of the company’s stock.

A number of large investors have recently modified their holdings of KRTX. Price T Rowe Associates Inc. MD boosted its position in Karuna Therapeutics by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,424,161 shares of the company’s stock valued at $144,681,000 after buying an additional 49,073 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Karuna Therapeutics by 6.7% in the 4th quarter. BlackRock Inc. now owns 1,373,712 shares of the company’s stock valued at $139,555,000 after acquiring an additional 86,154 shares during the last quarter. Pivotal bioVenture Partners Investment Advisor LLC bought a new position in shares of Karuna Therapeutics in the 4th quarter valued at $110,057,000. Federated Hermes Inc. lifted its stake in shares of Karuna Therapeutics by 54.6% in the 4th quarter. Federated Hermes Inc. now owns 525,993 shares of the company’s stock valued at $53,436,000 after acquiring an additional 185,872 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Karuna Therapeutics by 2.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 275,727 shares of the company’s stock valued at $28,011,000 after acquiring an additional 6,648 shares during the last quarter. 74.83% of the stock is owned by institutional investors and hedge funds.

Karuna Therapeutics stock traded down $4.33 during mid-day trading on Tuesday, reaching $107.50. The company’s stock had a trading volume of 181,686 shares, compared to its average volume of 195,837. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -53.48 and a beta of 2.07. Karuna Therapeutics has a 12 month low of $69.58 and a 12 month high of $146.97. The business’s 50 day simple moving average is $115.04 and its 200 day simple moving average is $106.57.

About Karuna Therapeutics

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate is KarXT, an oral modulator of muscarinic receptors that has completed Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia; and in Phase Ib clinical trial for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of dementia-related psychosis.

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