In a report released today, Edward White from H.C. Wainwright reiterated a Buy rating on Karyopharm Therapeutics (NASDAQ: KPTI), with a price target of $30. The company’s shares opened today at $19.09.
“We base our $30 price target on probability-adjusted revenue forecasts for selinexor. We use a net present value of our revenue forecast through 2026, apply a 50% probability of success (POS) for selinexor in penta-refractory multiple myeloma, a 35% POS for selinexor in combination treatment for multiple myeloma, and a 25% POS for selinexor in DLBCL. We use a 4x P/S multiple and estimated YE18 fully diluted net cash of $2.09/ share. Our P/S multiple of 4x is in-line with Karyopharm’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 23.7% and a 52.1% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on Karyopharm Therapeutics is a Strong Buy with an average price target of $26.75.
Based on Karyopharm Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.66 million. In comparison, last year the company had a GAAP net loss of $29.39 million.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.
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Karyopharm Therapeutics, Inc. is a clinical-stage pharmaceutical company, The engages in the discovery, development, and commercialization of drugs to treat cancer and other major diseases. The company intends to initiate a pivotal randomized Phase 3 study of selinexor in combination with bortezomib (Velcade) and low-dose dexamethasone (BOSTON) in patients with multiple myeloma. Karyopharm Therapeutics was founded by Joseph Araujo, Ronald A. DePinho, Pamela A Silver, Giulio Draetta, Michael G. Kauffman and Sharon Shacham on December 22, 2008 and is headquartered in Newton, MA.