Karyopharm Therapeutics (KPTI) Announces Quarterly Earnings Results

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Karyopharm Therapeutics (NASDAQ:KPTI) announced its quarterly earnings data on Thursday. The company reported ($0.79) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.88) by $0.09, MarketWatch Earnings reports. The company had revenue of $0.24 million during the quarter, compared to the consensus estimate of $1.21 million.

Shares of Karyopharm Therapeutics stock traded up $0.05 during midday trading on Friday, reaching $11.60. 786,589 shares of the company’s stock traded hands, compared to its average volume of 933,786. The company has a market cap of $721.92 million, a PE ratio of -4.13 and a beta of 3.93. Karyopharm Therapeutics has a 12 month low of $9.00 and a 12 month high of $21.71.

Several brokerages have weighed in on KPTI. Wedbush upgraded Karyopharm Therapeutics from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Friday. BidaskClub upgraded Karyopharm Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Karyopharm Therapeutics in a research report on Wednesday. ValuEngine downgraded Karyopharm Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $25.00 price objective on shares of Karyopharm Therapeutics in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.90.

In related news, CEO Michael Kauffman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $18.26, for a total transaction of $182,600.00. Following the completion of the transaction, the chief executive officer now owns 522,143 shares in the company, valued at $9,534,331.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sharon Shacham sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $11.65, for a total value of $145,625.00. Following the transaction, the insider now owns 726,010 shares of the company’s stock, valued at approximately $8,458,016.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 735,788 shares of company stock valued at $14,720,105. 13.26% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in KPTI. BlackRock Inc. grew its stake in Karyopharm Therapeutics by 47.0% in the second quarter. BlackRock Inc. now owns 4,055,634 shares of the company’s stock worth $68,905,000 after purchasing an additional 1,297,571 shares during the period. Candriam Luxembourg S.C.A. grew its stake in shares of Karyopharm Therapeutics by 120.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,085,500 shares of the company’s stock worth $18,486,000 after acquiring an additional 593,500 shares during the last quarter. Emerald Advisers Inc. PA purchased a new stake in shares of Karyopharm Therapeutics in the second quarter worth $9,537,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Karyopharm Therapeutics in the second quarter worth $8,116,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Karyopharm Therapeutics in the second quarter worth $5,787,000. Institutional investors own 71.83% of the company’s stock.

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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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Earnings History for Karyopharm Therapeutics (NASDAQ:KPTI)

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