HC Wainwright & Co. Downgrades Karuna Therapeutics to Neutral, Raises Price Target to $330
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Raghuram Selvaraju has downgraded Karuna Therapeutics (KRTX) from Buy to Neutral, while increasing the price target from $300 to $330. This reflects a more cautious stance on the stock despite the higher price target.
December 26, 2023 | 11:15 am
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NEUTRAL IMPACT
Karuna Therapeutics was downgraded by HC Wainwright & Co. from Buy to Neutral, although the price target was raised from $300 to $330, indicating a cautious outlook.
The downgrade to Neutral suggests that the analyst sees limited upside potential or increased risk in the stock, which could lead to short-term price stagnation or volatility. However, the increase in the price target to $330 implies some level of confidence in the company's fundamentals or future prospects. The mixed signals may result in a neutral short-term impact on the stock price as the market digests the information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100