Karyopharm Therapeutics (NASDAQ:KPTI) Price Target Cut to $7.00 by Analysts at Piper Sandler

Karyopharm Therapeutics (NASDAQ:KPTI) had its target price reduced by stock analysts at Piper Sandler from $16.00 to $7.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 207.02% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $16.00 price target on shares of Karyopharm Therapeutics in a research note on Tuesday, July 21st. Weiss Ratings downgraded Karyopharm Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. HC Wainwright lowered Karyopharm Therapeutics from a “buy” rating to a “negative” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Karyopharm Therapeutics in a research report on Tuesday, June 9th. Finally, Robert W. Baird lowered Karyopharm Therapeutics from an “outperform” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.50.

Karyopharm Therapeutics Trading Down 67.5%

Shares of NASDAQ:KPTI traded down $4.73 during midday trading on Friday, reaching $2.28. The company had a trading volume of 6,438,938 shares, compared to its average volume of 777,732. The stock has a market cap of $51.66 million, a P/E ratio of -0.15 and a beta of 0.80. The company’s 50 day moving average price is $9.00 and its 200 day moving average price is $8.23. Karyopharm Therapeutics has a 52-week low of $2.09 and a 52-week high of $10.99.

Karyopharm Therapeutics (NASDAQ:KPTI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.21. The company had revenue of $35.07 million during the quarter, compared to the consensus estimate of $31.40 million. Research analysts forecast that Karyopharm Therapeutics will post -3.24 EPS for the current fiscal year.

Institutional Trading of Karyopharm Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Baird Financial Group Inc. purchased a new stake in shares of Karyopharm Therapeutics during the 2nd quarter valued at approximately $45,000. XTX Topco Ltd purchased a new position in Karyopharm Therapeutics in the 2nd quarter valued at approximately $56,000. Hsbc Holdings PLC purchased a new position in Karyopharm Therapeutics in the 1st quarter valued at approximately $66,000. Corient Private Wealth LLC bought a new stake in Karyopharm Therapeutics during the 4th quarter valued at $74,000. Finally, Tudor Investment Corp ET AL bought a new stake in Karyopharm Therapeutics during the 4th quarter valued at $95,000. Institutional investors own 66.44% of the company’s stock.

Karyopharm Therapeutics News Roundup

Here are the key news stories impacting Karyopharm Therapeutics this week:

• Positive Sentiment: Karyopharm plans to submit a supplemental New Drug Application in August for selinexor combined with ruxolitinib in myelofibrosis, seeking accelerated approval and priority review. If approved, the combination could become the first approved therapy of its kind, giving KPTI a potentially important growth opportunity. Karyopharm myelofibrosis sNDA announcement
• Neutral Sentiment: The company’s stock was temporarily halted for “news pending” before the trial results and regulatory update were released, contributing to unusually volatile trading.
• Neutral Sentiment: Executive Vice President Stuart Poulton sold 189 shares for approximately $1,342, reducing his position by only 0.20%. The small transaction is unlikely to materially affect the investment case. SEC insider transaction filing
• Negative Sentiment: Karyopharm’s Phase 3 XPORT-EC-042 trial in endometrial cancer did not meet its primary progression-free-survival endpoint. Although median PFS favored selinexor by 5.3 months in the modified intent-to-treat population and no new safety concerns emerged, the company plans to reduce investment in the program and prioritize myelofibrosis and multiple myeloma. XPORT-EC-042 trial results
• Negative Sentiment: HC Wainwright reaffirmed a neutral rating but slashed its price target to $3 from $13. Robert W. Baird also downgraded KPTI from outperform to neutral and set a $3 target. These actions signal substantially lower expectations following the failed trial. Analyst rating update
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of KPTI investors, adding legal overhang after the sharp decline. Pomerantz investor investigation

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.