Karyopharm Therapeutics (KPTI) Upgraded to Buy at Zacks Investment Research
Karyopharm Therapeutics (NASDAQ:KPTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $11.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 9.02% from the company’s previous close.
According to Zacks, “Karyopharm Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on the discovery and development of drugs for the treatment of cancer and other major diseases. It serves the healthcare industry throughout the United States. Karyopharm Therapeutics, Inc. is based in United States. “
Other analysts have also issued reports about the stock. BidaskClub raised shares of Karyopharm Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Bank of America raised shares of Karyopharm Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Thursday, January 3rd. ValuEngine lowered shares of Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, November 12th. Wedbush raised shares of Karyopharm Therapeutics from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research report on Friday, November 9th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Karyopharm Therapeutics in a research report on Monday, December 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $21.90.
Karyopharm Therapeutics (NASDAQ:KPTI) last announced its earnings results on Thursday, November 8th. The company reported ($0.79) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.88) by $0.09. Karyopharm Therapeutics had a negative net margin of 502.90% and a negative return on equity of 104.50%. The business had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $1.21 million. On average, equities research analysts predict that Karyopharm Therapeutics will post -2.97 EPS for the current year.
In other news, CEO Michael Kauffman sold 9,600 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $11.00, for a total value of $105,600.00. Following the transaction, the chief executive officer now directly owns 521,743 shares of the company’s stock, valued at $5,739,173. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharon Shacham sold 12,500 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $11.65, for a total transaction of $145,625.00. Following the completion of the transaction, the insider now directly owns 726,010 shares in the company, valued at $8,458,016.50. The disclosure for this sale can be found here. Insiders have sold 57,500 shares of company stock worth $636,231 over the last ninety days. Insiders own 13.26% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of KPTI. Rhumbline Advisers raised its position in shares of Karyopharm Therapeutics by 35.1% in the second quarter. Rhumbline Advisers now owns 45,331 shares of the company’s stock valued at $770,000 after purchasing an additional 11,771 shares during the period. Bank of New York Mellon Corp increased its position in Karyopharm Therapeutics by 28.1% during the second quarter. Bank of New York Mellon Corp now owns 214,018 shares of the company’s stock worth $3,636,000 after acquiring an additional 46,911 shares during the period. Schwab Charles Investment Management Inc. increased its position in Karyopharm Therapeutics by 53.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 257,410 shares of the company’s stock worth $4,374,000 after acquiring an additional 89,222 shares during the period. Swiss National Bank increased its position in Karyopharm Therapeutics by 32.7% during the second quarter. Swiss National Bank now owns 85,150 shares of the company’s stock worth $1,447,000 after acquiring an additional 21,000 shares during the period. Finally, BlackRock Inc. increased its position in Karyopharm Therapeutics by 47.0% during the second quarter. BlackRock Inc. now owns 4,055,634 shares of the company’s stock worth $68,905,000 after acquiring an additional 1,297,571 shares during the period. 71.21% of the stock is currently owned by institutional investors.
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of drugs directed against nuclear transport and related targets for the treatment of cancer and other diseases. Its lead drug candidate is Selinexor(KPT-330), which is in Phase 2b clinical study in treatments of refractory multiple myeloma; Phase 1b/2 clinical study in combination with backbone treatments for multiple myeloma patients; Phase 2b clinical study in diffuse large B-cell lymphoma; Phase 3 clinical trial in combination with Velcade (bortezomib) and dexamethasone for multiple myeloma patients; and Phase 2/3 clinical study in liposarcoma.
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