Jefferies Upgrades Karyopharm Therapeutics (KPTI) to Buy
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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."
Shares of Karyopharm Therapeutics closed at $7.12 yesterday.
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