Karyopharm Therapeutics’ (KPTI) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Karyopharm Therapeutics (NASDAQ:KPTI) in a research note published on Monday,Benzinga reports. The firm currently has a $16.00 target price on the stock, up from their previous target price of $8.00.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Karyopharm Therapeutics in a report on Monday, December 29th. HC Wainwright decreased their price target on shares of Karyopharm Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Cantor Fitzgerald initiated coverage on shares of Karyopharm Therapeutics in a research note on Thursday, February 5th. They set an “overweight” rating on the stock. Robert W. Baird dropped their price objective on shares of Karyopharm Therapeutics from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Finally, Rodman & Renshaw raised shares of Karyopharm Therapeutics to a “strong-buy” rating in a report on Tuesday, March 10th. One 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’s stock. Based on data from MarketBeat.com, Karyopharm Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $15.43.

Karyopharm Therapeutics Stock Performance

Shares of KPTI opened at $8.66 on Monday. The firm has a market cap of $195.20 million, a price-to-earnings ratio of -0.52 and a beta of 0.40. The stock has a 50 day moving average of $8.09 and a 200-day moving average of $7.04. Karyopharm Therapeutics has a 52 week low of $3.65 and a 52 week high of $10.99.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its quarterly earnings results on Friday, February 13th. The company reported ($2.23) earnings per share (EPS) 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 analyst estimates of $33.16 million. On average, sell-side analysts predict that Karyopharm Therapeutics will post -4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karyopharm Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new position in shares of Karyopharm Therapeutics during the fourth quarter valued at $74,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Karyopharm Therapeutics by 112.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,491,409 shares of the company’s stock worth $10,977,000 after acquiring an additional 790,417 shares during the period. Ikarian Capital LLC lifted its position in Karyopharm Therapeutics by 1,897.9% in the 4th quarter. Ikarian Capital LLC now owns 544,554 shares of the company’s stock valued at $4,008,000 after purchasing an additional 517,297 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Karyopharm Therapeutics during the 4th quarter valued at about $95,000. Finally, Quadrature Capital Ltd acquired a new position in Karyopharm Therapeutics during the 4th quarter valued at about $439,000. 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.