Piper Sandler Reaffirms “Overweight” Rating for Karyopharm Therapeutics (NASDAQ:KPTI)

Karyopharm Therapeutics (NASDAQ:KPTI)‘s stock had its “overweight” rating reissued by equities researchers at Piper Sandler in a research note issued on Monday,Benzinga reports. They presently have a $8.00 price target on the stock, down from their previous price target of $12.00. Piper Sandler’s price target would indicate a potential upside of 51.37% from the stock’s previous close.

KPTI has been the topic of several other reports. Robert W. Baird lowered their target price on Karyopharm Therapeutics from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group set a $12.00 price target on Karyopharm Therapeutics in a report on Wednesday, December 17th. HC Wainwright reduced their price objective 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. Rodman & Renshaw raised shares of Karyopharm Therapeutics to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Karyopharm Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Karyopharm Therapeutics Price Performance

KPTI traded down $0.20 during trading on Monday, hitting $5.29. The company had a trading volume of 352,606 shares, compared to its average volume of 995,129. The company has a market cap of $96.93 million, a PE ratio of -0.32 and a beta of 0.13. Karyopharm Therapeutics has a 1-year low of $3.51 and a 1-year high of $10.99. The business has a 50-day moving average of $7.72 and a 200-day moving average of $6.83.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings results on Friday, February 13th. The company reported ($2.23) EPS for the quarter, topping the consensus estimate of ($2.26) by $0.03. The company had revenue of $34.08 million for the quarter, compared to the consensus estimate of $33.16 million. Research analysts forecast that Karyopharm Therapeutics will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in Karyopharm Therapeutics during the fourth quarter worth $74,000. Baird Financial Group Inc. bought a new position in Karyopharm Therapeutics during the 2nd quarter valued at about $45,000. Tudor Investment Corp ET AL bought a new stake in Karyopharm Therapeutics during the fourth quarter worth about $95,000. XTX Topco Ltd bought a new position in Karyopharm Therapeutics in the second quarter valued at approximately $56,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Karyopharm Therapeutics during the fourth quarter worth $135,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

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.