Piper Sandler Reiterates Overweight Rating for Karyopharm Therapeutics (NASDAQ:KPTI)

Key Points

• Piper Sandler reiterated an Overweight rating and raised its price target on KPTI to $16 (from $8), implying about an 83.4% upside from the prior close.
• Market consensus is a Moderate Buy with an average price target of $15.43 (analyst mix: 1 Strong Buy, 6 Buy, 1 Sell), signaling generally positive but varied analyst views.
• KPTI shares traded around $8.72 with a market cap near $197M; the company slightly beat recent quarterly EPS and revenue estimates and is about 66% institutionally owned.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Piper Sandler in a report released on Monday,Benzinga reports. They currently have a $16.00 price objective on the stock, up from their previous price objective of $8.00. Piper Sandler's price objective suggests a potential upside of 83.40% from the stock's previous close.

Several other equities analysts have also recently weighed in on KPTI. Robert W. Baird lowered their price target on Karyopharm Therapeutics from $21.00 to $15.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. HC Wainwright lowered their price target on Karyopharm Therapeutics from $15.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Cantor Fitzgerald began coverage on Karyopharm Therapeutics in a report on Thursday, February 5th. They set an "overweight" rating on the stock. Rodman & Renshaw raised Karyopharm Therapeutics to a "strong-buy" rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Karyopharm Therapeutics in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.43.

Karyopharm Therapeutics Stock Performance

Shares of NASDAQ KPTI traded up $0.06 during midday trading on Monday, hitting $8.72. 199,628 shares of the stock traded hands, compared to its average volume of 888,199. The firm has a 50-day moving average of $8.09 and a two-hundred day moving average of $7.02. The firm has a market capitalization of $196.64 million, a P/E ratio of -0.53 and a beta of 0.40. Karyopharm Therapeutics has a one year low of $3.65 and a one year high of $10.99.

Karyopharm Therapeutics (NASDAQ:KPTI - Get Free Report) last released its quarterly earnings results on Friday, February 13th. The company reported ($2.23) earnings per share for the quarter, beating the consensus estimate of ($2.26) by $0.03. The firm had revenue of $34.08 million for the quarter, compared to the consensus estimate of $33.16 million. Equities analysts forecast that Karyopharm Therapeutics will post -4.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karyopharm Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boothbay Fund Management LLC purchased a new stake in shares of Karyopharm Therapeutics in the 4th quarter worth $1,064,000. Bridgeway Capital Management LLC increased its stake in shares of Karyopharm Therapeutics by 88.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,873 shares of the company's stock worth $485,000 after purchasing an additional 31,000 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Karyopharm Therapeutics in the 4th quarter worth $439,000. State Street Corp increased its stake in shares of Karyopharm Therapeutics by 27.2% in the 4th quarter. State Street Corp now owns 58,942 shares of the company's stock worth $434,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Karyopharm Therapeutics by 761.3% in the 4th quarter. Royal Bank of Canada now owns 58,000 shares of the company's stock worth $427,000 after purchasing an additional 51,266 shares in the last quarter. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

About Karyopharm Therapeutics

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.

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