Karuna Therapeutics Inc. (KRTX) PT Raised to $109 at Goldman Sachs

Goldman Sachs analyst Salveen Richter raised the price target on Karuna Therapeutics Inc. (NASDAQ: KRTX) to $109.00 (from $35.00) while maintaining a Buy rating.

The analyst comments "KarXT was generally well tolerated with similar discontinuation rates noted between study arms. In our view, the strong signal of efficacy coupled with a tolerability profile unencumbered by traditional antipsychotic side effects support KarXT's use in schizophrenia psychosis (GSe global peak sales $1.9bn; PoS of 60% vs. 15% prior) and provide positive read-through to the pipeline for Alzheimer's disease psychosis (GSe global peak sales $2.5bn; PoS 10%) and other symptom domains of schizophrenia - and note an upcoming Ph1b study in pain (with the latter two not included in model)."

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