Jefferies Upgrades Karyopharm Therapeutics (KPTI) to Buy

August 30, 2016 6:53 AM EDT
Get Alerts KPTI Hot Sheet
Price: $10.38 --0%

Rating Summary:
    10 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 8 | New: 5
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Jefferies upgraded Karyopharm Therapeutics (NASDAQ: KPTI) from Hold to Buy with a price target of $12.00 (from $9.00), saying they are expecting near-term data to support a path forward and potential role for selinexor.

Analyst Brian Abrahams commented, "We are upgrading KPTI to Buy and increasing our tgt to $12 from $9, based on increasing confidence that NT data--particularly from the STORM trial--will support a path forward and potential role for selinexor in the future MM landscape, which we believe presents a significant rev oppty. We do not believe KPTI's current EV of ~$90M appropriately credits their emerging MM path, multiple shots on goal across other cancers, and pipeline oppties."

For an analyst ratings summary and ratings history on Karyopharm Therapeutics click here. For more ratings news on Karyopharm Therapeutics click here.

Shares of Karyopharm Therapeutics closed at $7.12 yesterday.

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