Karyopharm Therapeutics (KPTI) Posts Quarterly Earnings Results
Karyopharm Therapeutics (NASDAQ:KPTI) released its quarterly earnings data on Thursday. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.09, MarketWatch Earnings reports. The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $1.21 million.
Shares of KPTI traded up $0.05 during midday trading on Friday, hitting $11.60. 786,589 shares of the company traded hands, compared to its average volume of 933,786. Karyopharm Therapeutics has a 52 week low of $9.00 and a 52 week high of $21.71. The company has a market capitalization of $721.92 million, a PE ratio of -4.13 and a beta of 3.93.
In related news, major shareholder Ltd Chione sold 214,026 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $19.52, for a total value of $4,177,787.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Kauffman sold 10,000 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $17.46, for a total transaction of $174,600.00. Following the completion of the transaction, the chief executive officer now directly owns 522,143 shares of the company’s stock, valued at approximately $9,116,616.78. The disclosure for this sale can be found here. Insiders have sold a total of 735,788 shares of company stock valued at $14,720,105 in the last three months. Insiders own 13.26% of the company’s stock.
Several research analysts have commented on KPTI shares. BidaskClub downgraded shares of Karyopharm Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research raised shares of Karyopharm Therapeutics from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, July 25th. Canaccord Genuity reissued a “buy” rating and set a $27.00 price objective on shares of Karyopharm Therapeutics in a report on Tuesday, August 7th. Robert W. Baird reissued a “buy” rating and set a $25.00 price objective on shares of Karyopharm Therapeutics in a report on Wednesday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Karyopharm Therapeutics in a report on Wednesday, August 29th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.90.
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About Karyopharm Therapeutics
Karyopharm Therapeutics Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of drugs directed against nuclear transport and related targets for the treatment of cancer and other diseases. Its lead drug candidate is Selinexor(KPT-330), which is in Phase 2b clinical study in treatments of refractory multiple myeloma; Phase 1b/2 clinical study in combination with backbone treatments for multiple myeloma patients; Phase 2b clinical study in diffuse large B-cell lymphoma; Phase 3 clinical trial in combination with Velcade (bortezomib) and dexamethasone for multiple myeloma patients; and Phase 2/3 clinical study in liposarcoma.
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