Karyopharm Therapeutics (NASDAQ:KPTI) Price Target Raised to $13.00 at HC Wainwright

Key Points

• HC Wainwright raised Karyopharm's price target to $13 (from $8) and kept a buy rating, implying about a 38% upside, while the consensus is a "Moderate Buy" with an average target of $16.14.
• Shares opened at $9.41 (market cap ≈ $212M); the company slightly beat the quarter with EPS of ($2.23) and revenue of $34.1M.
• Institutional investors own roughly 66% of the stock, with recent position increases by State Street, Royal Bank of Canada and others signaling growing institutional interest.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report) had its price target lifted by analysts at HC Wainwright from $8.00 to $13.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 38.15% from the company's current price.

A number of other analysts have also recently issued reports on the company. Rodman & Renshaw raised Karyopharm Therapeutics to a "strong-buy" rating in a research report on Tuesday, March 10th. Cantor Fitzgerald assumed coverage on Karyopharm Therapeutics in a research report on Thursday, February 5th. They set an "overweight" rating for the company. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price objective (up from $8.00) on shares of Karyopharm Therapeutics in a research report on Monday, April 27th. Finally, Robert W. Baird decreased their price objective on Karyopharm Therapeutics from $21.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.14.

Karyopharm Therapeutics Stock Up 1.2%

Shares of NASDAQ KPTI opened at $9.41 on Wednesday. The stock has a market cap of $212.10 million, a PE ratio of -0.57 and a beta of 0.80. Karyopharm Therapeutics has a 52-week low of $3.65 and a 52-week high of $10.99. The business has a 50-day moving average price of $8.02 and a 200 day moving average price of $7.13.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report) last announced its earnings results on Friday, February 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.26) by $0.03. The firm had revenue of $34.08 million during the quarter, compared to analyst estimates of $33.16 million. Sell-side analysts anticipate that Karyopharm Therapeutics will post -4.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in Karyopharm Therapeutics during the fourth quarter worth $439,000. State Street Corp grew its holdings in Karyopharm Therapeutics by 27.2% during the fourth quarter. State Street Corp now owns 58,942 shares of the company's stock worth $434,000 after acquiring an additional 12,600 shares during the period. Royal Bank of Canada grew its holdings in Karyopharm Therapeutics by 761.3% during the fourth quarter. Royal Bank of Canada now owns 58,000 shares of the company's stock worth $427,000 after acquiring an additional 51,266 shares during the period. Jump Financial LLC acquired a new position in Karyopharm Therapeutics during the fourth quarter worth $396,000. Finally, ADAR1 Capital Management LLC grew its holdings in Karyopharm Therapeutics by 100.0% during the fourth quarter. ADAR1 Capital Management LLC now owns 50,000 shares of the company's stock worth $368,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 66.44% of the company's stock.

Karyopharm Therapeutics Company Profile

Karyopharm Therapeutics NASDAQ: KPTI is a clinical-stage biopharmaceutical company focused on discovering and developing novel first-in-class drugs that target the nuclear export protein XPO1. The company's lead product, selinexor (marketed as XPOVIO), is an oral selective inhibitor of nuclear export (SINE) compound approved for treatment of multiple myeloma and diffuse large B-cell lymphoma. In addition to selinexor, Karyopharm's pipeline includes second-generation SINE compounds and combination studies in solid tumors and hematologic malignancies.

Founded in 2008 and headquartered in Newton, Massachusetts, Karyopharm has built a research platform around modulation of nuclear export pathways.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.