Mizuho Downgrades Karuna Therapeutics: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Mizuho has downgraded Karuna Therapeutics (NASDAQ:KRTX) to Neutral, adjusting the price target from $245.00 to $330.00. Despite the downgrade, the new price target suggests a potential upside of 5.05% from the current share price of $314.12. Karuna Therapeutics is a clinical-stage biopharmaceutical company developing therapies for neuropsychiatric conditions.
January 26, 2024 | 5:00 pm
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NEUTRAL IMPACT
Mizuho downgraded Karuna Therapeutics to Neutral but raised the price target from $245 to $330, suggesting a potential 5.05% upside from the current price.
While the downgrade to Neutral typically indicates a more cautious view on the stock's potential, the increase in price target to $330 implies that Mizuho still sees some upside. This mixed signal may lead to a neutral short-term impact on the stock price as the market digests both the downgrade and the higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100