Karyopharm Therapeutics (NASDAQ:KPTI) Receives Neutral Rating from HC Wainwright

Key Points

• HC Wainwright reiterated a Neutral rating on Karyopharm Therapeutics but sharply cut its price target to $3 from $13, implying approximately 57% downside from the reported $7.01 share price.
• Despite the downgrade, analyst sentiment remains mixed-to-positive overall: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $15, with one Strong Buy and four Buy ratings among the analysts tracked.
• Karyopharm reported quarterly EPS of -$1.24, beating expectations of -$1.45, while revenue of $35.07 million exceeded the $31.40 million consensus estimate; institutional investors and hedge funds own 66.44% of the stock.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report)'s stock had its "neutral" rating reiterated by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $3.00 price objective on the stock, down from their prior price objective of $13.00. HC Wainwright's target price would indicate a potential downside of 57.20% from the stock's current price.

A number of other equities research analysts also recently commented on KPTI. Cantor Fitzgerald reiterated an "overweight" rating on shares of Karyopharm Therapeutics in a report on Tuesday, June 9th. Royal Bank Of Canada restated an "outperform" rating and set a $16.00 target price on shares of Karyopharm Therapeutics in a research report on Tuesday, July 21st. Weiss Ratings cut Karyopharm Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $16.00 price target (up from $8.00) on shares of Karyopharm Therapeutics in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Karyopharm Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Karyopharm Therapeutics Stock Performance

Shares of KPTI stock opened at $7.01 on Friday. Karyopharm Therapeutics has a 52-week low of $3.65 and a 52-week high of $10.99. The stock has a market cap of $158.85 million, a PE ratio of -0.46 and a beta of 0.80. The firm's 50 day moving average price is $9.00 and its two-hundred day moving average price is $8.23.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.21. The business had revenue of $35.07 million for the quarter, compared to the consensus estimate of $31.40 million. As a group, sell-side analysts predict that Karyopharm Therapeutics will post -3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karyopharm Therapeutics

A number of large investors have recently modified their holdings of KPTI. XTX Topco Ltd bought a new stake in Karyopharm Therapeutics during the second quarter worth about $56,000. Baird Financial Group Inc. acquired a new position in Karyopharm Therapeutics during the second quarter worth $45,000. Bank of America Corp DE lifted its stake in Karyopharm Therapeutics by 26.8% in the second quarter. Bank of America Corp DE now owns 168,534 shares of the company's stock valued at $726,000 after acquiring an additional 35,626 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Karyopharm Therapeutics during the 2nd quarter worth about $163,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Karyopharm Therapeutics in the 3rd quarter valued at about $164,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

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.