Karyopharm Therapeutics Received its Third Buy in a Row


After Jefferies and Cantor Fitzgerald gave Karyopharm Therapeutics (NASDAQ: KPTI) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Edward White assigned a Buy rating to Karyopharm Therapeutics today and set a price target of $30. The company’s shares opened today at $17.82.

White wrote:

“We note that Karyopharm already has a partnership with Ono Pharmaceutical for selinexor and eltanexor in the ASEAN countries. Recent positive Phase 2b STORM data confirmed our expectations for the success of selinexor. The company expects a NDA submission for an accelerated approval of selinexor in patients with penta-refractory multiple myeloma in 2H18. We estimate the addressable peak market size for this population is over $500 million in the U.S. A strategy for a European launch is underway. Karyopharm plans to submit a MAA to the in early 2019 with a request for conditional approval.”

According to TipRanks.com, White is a 5-star analyst with an average return of 26.6% and a 55.4% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Mirati Therapeutics.

Currently, the analyst consensus on Karyopharm Therapeutics is Strong Buy and the average price target is $23.71, representing a 33.1% upside.

In a report issued on May 15, Canaccord Genuity also reiterated a Buy rating on the stock with a $24 price target.

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The company has a one-year high of $20.39 and a one-year low of $7.48. Currently, Karyopharm Therapeutics has an average volume of 815.4K.

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Karyopharm Therapeutics, Inc. is a clinical-stage pharmaceutical company, which discovers, develops, and commercializes 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.

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