Karyopharm Therapeutics (KPTI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Edward White from H.C. Wainwright remains neutral on the stock and has a $10.00 price target.
Edward White from H.C. Wainwright has recommended a Buy rating for Karyopharm Therapeutics’s stock (KPTI). This recommendation can be attributed to a couple of factors. Firstly, Karyopharm’s third quarter revenue and earnings per share (EPS) came in at $36.0M and ($0.30) respectively, which were close to White’s estimates of $36.3M and ($0.29). The company also reported cash and equivalents amounting to $209.2M as of the end of September, indicating a healthy financial position.
Secondly, White was encouraged by the performance of Karyopharm’s product, Xpovio. The net product sales for Xpovio in the U.S. during 3Q23 were reported at $30.2M, which was slightly higher than White’s expectations of $29.3M. Xpovio, which is approved by the FDA for the treatment of multiple conditions, has been elevated in the NCCN guidelines to a preferred regimen for certain patients. The company also received full marketing approval authorization for Nexpovio (the European name for Xpovio) from the UK Medicines and Healthcare Products Regulatory Agency. This broadened approval and the promising sales figures for Xpovio led to White’s optimistic outlook for Karyopharm Therapeutics.
White covers the Healthcare sector, focusing on stocks such as Valneva, Dynavax, and Puma Biotechnology. According to TipRanks, White has an average return of -25.3% and a 21.89% success rate on recommended stocks.
In another report released on October 25, Piper Sandler also maintained a Buy rating on the stock with a $7.00 price target.
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Karyopharm Therapeutics (KPTI) Company Description:
Karyopharm Therapeutics, Inc. is an oncology-focused pharmaceutical company dedicated to the discovery, development, and commercialization of novel first-in-class drugs directed against nuclear export and related targets for the treatment of cancer and other major diseases. Its SINE compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). Karyopharm’s lead compound, XPOVIOTM (selinexor), received accelerated approval from the FDA in combination with dexamethasone as a treatment for patients with heavily pretreated multiple myeloma. A Marketing Authorization Application for selinexor is also currently under review by the European Medicines Agency (EMA). In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm has several investigational programs in clinical or preclinical development. The company 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.
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