Karuna Therapeutics Inc. (KRTX) PT Raised to $170 at BofA Securities

March 28, 2022 8:55 AM EDT
Get Alerts KRTX Hot Sheet
Price: $224.93 +0.19%

Rating Summary:
    16 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
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BofA Securities analyst Jason Gerberry raised the price target on Karuna Therapeutics Inc. (NASDAQ: KRTX) to $170.00 (from $157.00) while maintaining a Buy rating.

The analyst commented, "Ahead of KRTX’s highly important Ph3 (EMERGENT-2) trial for KarXT in schizophrenia, we revisit key bull/bear debates on the drug and pathway for value unlocking. Ultimately, we expect KarXT to establish a highly competitive profile in lead schizophrenia indication that includes efficacy on par with upper-tier antipsychotics while offering faster onset and preferential AE profile (owing to its novel mechanism). Given competitive nature of the schizophrenia market, we forecast $1.5bn in lead indication nominal sales and view schizophrenia label expansion (e.g. adjunctive) as doubling nominal sales potential with long (2039) patent runway."

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