-$1.42 Earnings Per Share Expected for Karuna Therapeutics, Inc. (NASDAQ:KRTX) This Quarter

Wall Street analysts expect Karuna Therapeutics, Inc. (NASDAQ:KRTX) to announce ($1.42) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Karuna Therapeutics’ earnings, with the highest EPS estimate coming in at ($1.06) and the lowest estimate coming in at ($1.65). Karuna Therapeutics reported earnings per share of ($0.71) during the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The company is expected to announce its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Karuna Therapeutics will report full-year earnings of ($5.55) per share for the current fiscal year, with EPS estimates ranging from ($6.68) to ($4.18). For the next financial year, analysts forecast that the business will post earnings of ($6.27) per share, with EPS estimates ranging from ($9.07) to ($4.69). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Karuna Therapeutics.

Karuna Therapeutics (NASDAQ:KRTX) last posted its earnings results on Thursday, August 5th. The company reported ($1.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.34) by $0.17.

Several research firms recently issued reports on KRTX. Royal Bank of Canada upped their price objective on shares of Karuna Therapeutics from $164.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, June 23rd. They noted that the move was a valuation call. Citigroup started coverage on shares of Karuna Therapeutics in a report on Monday, August 30th. They issued a “buy” rating and a $152.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of Karuna Therapeutics in a report on Wednesday, July 28th. They issued a “buy” rating and a $158.00 price target for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $154.91.

In related news, CEO Steven M. Paul acquired 1,183 shares of the firm’s stock in a transaction on Tuesday, August 17th. The shares were purchased at an average price of $105.63 per share, with a total value of $124,960.29. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Healy acquired 636 shares of the firm’s stock in a transaction on Friday, July 2nd. The shares were bought at an average cost of $117.80 per share, for a total transaction of $74,920.80. The disclosure for this purchase can be found here. Insiders have sold a total of 16,000 shares of company stock valued at $1,803,175 in the last quarter. 15.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of KRTX. OLD Mission Capital LLC bought a new position in shares of Karuna Therapeutics in the 3rd quarter valued at about $518,000. IFP Advisors Inc boosted its stake in Karuna Therapeutics by 10.5% during the 1st quarter. IFP Advisors Inc now owns 1,039 shares of the company’s stock worth $127,000 after acquiring an additional 99 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Karuna Therapeutics during the 1st quarter worth approximately $221,000. Swiss National Bank boosted its stake in Karuna Therapeutics by 1.8% during the 1st quarter. Swiss National Bank now owns 27,600 shares of the company’s stock worth $3,318,000 after acquiring an additional 500 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in Karuna Therapeutics by 9.3% during the 1st quarter. Alps Advisors Inc. now owns 52,588 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,481 shares during the last quarter. 85.87% of the stock is currently owned by hedge funds and other institutional investors.

KRTX stock traded up $0.64 during trading hours on Wednesday, hitting $115.95. The company’s stock had a trading volume of 3,454 shares, compared to its average volume of 177,318. The stock has a 50 day moving average price of $114.50 and a two-hundred day moving average price of $116.41. The company has a market capitalization of $3.43 billion, a PE ratio of -30.27 and a beta of 1.80. Karuna Therapeutics has a 12 month low of $74.06 and a 12 month high of $146.97.

About Karuna Therapeutics

Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company, which engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.

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Earnings History and Estimates for Karuna Therapeutics (NASDAQ:KRTX)

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