Piper Sandler Lowers Karyopharm Therapeutics (NASDAQ:KPTI) Price Target to $7.00

Karyopharm Therapeutics (NASDAQ:KPTI) had its price objective decreased by investment analysts at Piper Sandler from $16.00 to $7.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 207.02% from the stock’s current price.

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

Karyopharm Therapeutics Price Performance

KPTI stock traded down $4.73 during mid-day trading on Friday, reaching $2.28. 6,438,938 shares of the company traded hands, compared to its average volume of 777,732. The company has a fifty day moving average price of $9.00 and a 200-day moving average price of $8.23. Karyopharm Therapeutics has a 52-week low of $2.09 and a 52-week high of $10.99. The company has a market capitalization of $51.66 million, a P/E ratio of -0.15 and a beta of 0.80.

Karyopharm Therapeutics (NASDAQ:KPTI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.21. The firm had revenue of $35.07 million during the quarter, compared to analysts’ expectations of $31.40 million. As a group, analysts forecast that Karyopharm Therapeutics will post -3.24 EPS for the current year.

Institutional Trading of Karyopharm Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in KPTI. Commodore Capital LP bought a new stake in shares of Karyopharm Therapeutics during the 1st quarter worth $10,862,000. T. Rowe Price Investment Management Inc. grew its position in Karyopharm Therapeutics by 112.8% in the fourth 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 in the last quarter. Ikarian Capital LLC increased its stake in Karyopharm Therapeutics by 1,897.9% in the fourth quarter. Ikarian Capital LLC now owns 544,554 shares of the company’s stock valued at $4,008,000 after acquiring an additional 517,297 shares during the last quarter. Avidity Partners Management LP increased its stake in Karyopharm Therapeutics by 244.6% in the first quarter. Avidity Partners Management LP now owns 463,741 shares of the company’s stock valued at $2,583,000 after acquiring an additional 329,175 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Karyopharm Therapeutics during the fourth quarter valued at about $1,064,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Trending Headlines about Karyopharm Therapeutics

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

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.