Karyopharm Therapeutics (NASDAQ:KPTI) Price Target Raised to $5.00

Karyopharm Therapeutics (NASDAQ:KPTI) had its price objective boosted by investment analysts at Piper Sandler from $4.00 to $5.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 466.76% from the stock’s previous close.

Several other brokerages have also recently weighed in on KPTI. Robert W. Baird decreased their target price on Karyopharm Therapeutics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Karyopharm Therapeutics in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $3.00 price objective on shares of Karyopharm Therapeutics in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Karyopharm Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.00.

Karyopharm Therapeutics Price Performance

Shares of KPTI opened at $0.88 on Wednesday. The firm has a 50-day moving average price of $0.81 and a 200 day moving average price of $0.91. The firm has a market capitalization of $109.99 million, a PE ratio of -0.75 and a beta of 0.16. Karyopharm Therapeutics has a 52-week low of $0.62 and a 52-week high of $1.95.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $38.78 million during the quarter, compared to analyst estimates of $37.86 million. During the same period in the prior year, the company posted ($0.30) earnings per share. On average, equities analysts expect that Karyopharm Therapeutics will post -0.95 EPS for the current year.

Hedge Funds Weigh In On Karyopharm Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Karyopharm Therapeutics in the second quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Karyopharm Therapeutics during the second quarter valued at $143,000. Acadian Asset Management LLC purchased a new stake in Karyopharm Therapeutics in the 2nd quarter worth about $167,000. Exchange Traded Concepts LLC boosted its position in Karyopharm Therapeutics by 34.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 218,791 shares of the company’s stock worth $182,000 after acquiring an additional 56,613 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Karyopharm Therapeutics during the 2nd quarter valued at about $494,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

About Karyopharm Therapeutics

Karyopharm Therapeutics Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes drugs directed against nuclear export for the treatment of cancer and other diseases in the United States. The company discovers, develops, and commercializes novel and small molecule Selective Inhibitor of Nuclear Export (SINE) compounds that inhibit the nuclear export protein exportin 1 (XPO1).