Bank of America Corp. initiated coverage on shares of Karyopharm Therapeutics (NASDAQ:KPTI) in a research report released on Monday morning, AR Network reports. The firm issued a buy rating and a $24.00 price objective on the stock.
“We are initiating coverage of Karyopharm Therapeutics (KPTI) with a Buy rating and a $24 PO. Selinexor is the lead candidate from the company’s novel technology platform. Though the molecule is still in early stage trials (ph 1), KPTI has collected interim data in more than 170 patients across ~20 cancer indications. We find the data thus far to be compelling as Selinexor has achieved stable disease or better in ~half of all patients who have received the drug. This response rate is particularly impressive given the population of patients (highly refractory, all with disease progression, in a mix of solid and liquid tumors) and dose optimization is still under way. We note safety appears favorable as Selinexor’s mechanism (blockade of XPO1) lasts long enough to trigger death of cancer cells but is short enough to spare healthy cells. We incorporate a modest 25% probability in our DCF that includes both hematology and solid tumors, representing significant potential upside, in our view. KPTI’s next catalyst will likely be 12 oral/poster presentations at ASH next week.,” the firm’s analyst wrote.
Separately, analysts at Oppenheimer initiated coverage on shares of Karyopharm Therapeutics in a research note to investors on Monday. They set an outperform rating and a $23.00 price target on the stock.
Shares of Karyopharm Therapeutics (NASDAQ:KPTI) traded up 0.22% during mid-day trading on Monday, hitting $16.216. 37,030 shares of the company’s stock traded hands. Karyopharm Therapeutics has a one year low of $15.50 and a one year high of $19.09. The stock has a 50-day moving average of $16.05 and a 200-day moving average of $16.05. The company’s market cap is $465.9 million.
Karyopharm Therapeutics Inc is a clinical-stage pharmaceutical company focused on the discovery and development of drugs directed against nuclear transport targets for the treatment of cancer and other major diseases.
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