UPDATE: Jefferies Starts Karuna Therapeutics Inc. (KRTX) at Buy
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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."
Shares of Karuna Therapeutics Inc. closed at $111.08 yesterday.
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