Karyopharm Therapeutics (NASDAQ:KPTI) Sees Strong Trading Volume Following Analyst Upgrade

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) shares saw unusually-strong trading volume on Wednesday after HC Wainwright raised their price target on the stock from $7.00 to $56.00. HC Wainwright currently has a buy rating on the stock. Approximately 71,335 shares traded hands during trading, an increase of 19% from the previous session’s volume of 59,874 shares.The stock last traded at $8.82 and had previously closed at $8.56.

Other research analysts also recently issued research reports about the stock. Piper Sandler boosted their target price on shares of Karyopharm Therapeutics from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $3.00 price target on shares of Karyopharm Therapeutics in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Karyopharm Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

Institutional Trading of Karyopharm Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Velan Capital Investment Management LP acquired a new position in shares of Karyopharm Therapeutics during the fourth quarter valued at about $27,000. Focus Partners Wealth bought a new position in Karyopharm Therapeutics in the 4th quarter valued at about $31,000. TD Waterhouse Canada Inc. acquired a new position in Karyopharm Therapeutics during the 4th quarter valued at about $32,000. Two Sigma Advisers LP increased its holdings in Karyopharm Therapeutics by 145.5% during the 4th quarter. Two Sigma Advisers LP now owns 76,600 shares of the company’s stock worth $52,000 after purchasing an additional 45,400 shares in the last quarter. Finally, Opti Capital Management LP purchased a new stake in shares of Karyopharm Therapeutics in the fourth quarter worth approximately $85,000. Institutional investors own 66.44% of the company’s stock.

Karyopharm Therapeutics Price Performance

The company has a market cap of $1.11 billion, a P/E ratio of -8.68 and a beta of 0.06. The stock has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.75.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.02. The company had revenue of $30.54 million for the quarter, compared to the consensus estimate of $30.29 million. Equities analysts predict that Karyopharm Therapeutics Inc. will post -0.71 earnings per share for the current fiscal year.

Karyopharm Therapeutics Company Profile

Karyopharm Therapeutics Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes drugs directed against nuclear export for the treatment of cancer and other diseases in the United States. The company discovers, develops, and commercializes novel and small molecule Selective Inhibitor of Nuclear Export (SINE) compounds that inhibit the nuclear export protein exportin 1 (XPO1).