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KRTX

Karuna Therapeutics

$73.20

55.94 (324.10%)

13:43
11/18/19
11/18
13:43
11/18/19
13:43

Karuna Therapeutics price target raised to $115 from $28 at Citi

Citi analyst Mohit Bansal said the phase 2 data reported by Karuna Therapeutics for KarXT appear better than expected, better than current anti-psychotics, and could be "paradigm changing." The drug's "benign" safety lead him to see the potential for use as a front line agent as well, leading the analyst to raise his peak unadjusted sales estimate in schizophrenia to $4.7B from $2.3B. Given the higher peak sales potential, and higher odds assigned for the drug's approval, Bansal raised his price target for Karuna shares to $115 from $28. The analyst, who thinks there is more upside in the stock despite today's move, keeps a Buy rating on Karuna shares, which are up $64.52, or 365%, to $82.20.

  • 18

    Nov

KRTX Karuna Therapeutics
$73.20

55.94 (324.10%)

07/23/19
WELS
07/23/19
INITIATION
Target $29
WELS
Outperform
Karuna Therapeutics initiated with an Outperform at Wells Fargo
Wells Fargo analyst David Maris started Karuna Therapeutics with an Outperform rating and $29 price target. The company is addressing markets with significant unmet medical need and if approved, its lead product KarXT could have sales of $500M to $1B-plus, Maris tells investors in a research note.
07/23/19
SBSH
07/23/19
INITIATION
Target $28
SBSH
Buy
Karuna Therapeutics initiated with a Buy at Citi
Citi analyst Mohit Bansal started Karuna Therapeutics with a Buy rating and $28 price target. If successful, the company's xanomeline would offer a new mechanism of action versus current antipsychotics, and would be the first treatment targeting negative and cognitive symptoms, Bansal tells investors in a research note. He believes the Phase 2 schizophrenia data by year-end 2019 "will further de-risk the program" and sees the opportunity in that setting reaching $2B in sales.
07/23/19
WEDB
07/23/19
INITIATION
Target $38
WEDB
Outperform
Karuna Therapeutics initiated with an Outperform at Wedbush
Wedbush analyst Liana Moussatos started coverage of Karuna Therapeutics with an Outperform rating and a $38 price target. The analyst considers Karuna Therapeutics to be an opportunity to invest in a breakthrough oral treatment for symptoms and cognitive impairment associated with schizophrenia and Alzheimer's disease as well as pain. Due to millions of schizophrenia and Alzheimer's disease patients and low compliance for current "dirty" drugs available for psychosis and nothing approved for negative symptoms or cognitive impairment, Moussatos sees blockbuster sales potential for KarXT. Starting with U.S. launch in 2023, she estimates KarXT could achieve over $1B in gross peak annual sales in 2027 and more than $4B in 2030.
11/18/19
GSCO
11/18/19
NO CHANGE
Target $109
GSCO
Buy
Karuna Therapeutics price target raised to $109 from $35 at Goldman Sachs
Goldman Sachs analyst Salveen Richter raised his view on the odds of success of KarXT for the treatment of acute psychosis in patients with schizophrenia to 60% from 15% after Karuna Therapeutics announced results from its Phase 2 clinical trial of the drug. In his view, the strong signal of efficacy coupled with the drug's tolerability profile support use of KarXT in schizophrenia psychosis and have a positive read-through to the pipeline for Alzheimer's disease psychosis, Richter tells investors. He keeps a Buy rating on Karuna shares and raised his price target on the stock to $109 from $35.

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