Today's most important initiations

Piper Sandler initiated coverage on Karuna Therapeutics Inc. (NASDAQ: KRTX) 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: AZN) with an Outperform rating and a price target of $82.00.

B. Riley initiated coverage on Reservoir Media Inc (NASDAQ: RSVR) 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 Manpower Inc. (NYSE: MAN) with an Outperform rating and a price target of $95.00.

JPMorgan initiated coverage on Forge Global Holdings Inc (NYSE: FRGE) with a Neutral rating.

By Davit Kirakosyan

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