UPDATE: Jefferies Starts Karuna Therapeutics Inc. (KRTX) at Buy

July 28, 2021 4:28 AM EDT
Get Alerts KRTX Hot Sheet
Price: $120.59 -1.81%

Rating Summary:
    13 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 30
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(Updated - July 28, 2021 7:54 AM EDT)

Jefferies analyst Brian Mills initiates coverage on Karuna Therapeutics Inc. (NASDAQ: KRTX) with a Buy rating and a price target of $158.00.

The analyst commented, "Schizophrenia pts are underserved and there have been no major mechanistic advances in decades. KarXT is poised to be the first muscarinic-targeting Tx and, unlike most meds, shows efficacy on all symptom domains. We see Ph3 studies as de-risked and likely to succeed in a huge market (unadj. sales ~$2.1B). We see even more potential upside in dementia-related psychosis w/ a pot'ly best in class med and a ~$3-4B oppt'y fueling long-term growth. Initiate at Buy."

For an analyst ratings summary and ratings history on Karuna Therapeutics Inc. click here. For more ratings news on Karuna Therapeutics Inc. click here.

Shares of Karuna Therapeutics Inc. closed at $111.08 yesterday.

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