© Reuters. Today’s most important initiations
By Davit Kirakosyan
Piper Sandler initiated coverage on Karuna Therapeutics (NASDAQ:) with an Overweight rating and a price target of $285.00. The firm believes the company’s KarXT is poised to emerge as a valued and versatile option in a schizophrenia space that has been starved for mechanistically unique options, and further believes that peak U.S. sales approaching $3B+ are realistic.
BMO Capital initiated coverage on AstraZeneca (NASDAQ:) with an Outperform rating and a price target of $82.00.
B. Riley initiated coverage on Reservoir Media Inc (NASDAQ:) with a Buy rating and a price target of $11.00. The company owns or administers over 175k publishing and recorded music copyrights, providing investors with exposure to royalties tied to irreplaceable, long-lived IP that the analysts expect to post mid-/high-single-digit organic growth.
Exane BNP Paribas initiated coverage on ManpowerGroup Inc (NYSE:) with an Outperform rating and a price target of $95.00.
JPMorgan initiated coverage on Forge Global Holdings Inc (NYSE:) with a Neutral rating.
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