On Monday, Karyopharm Therapeutics (NASDAQ:KPTI) shares experienced a revision in its outlook as H.C. Wainwright adjusted the company's price target to $7.00, a decrease from the previous $8.00. Despite this change, the firm maintained a Buy rating on the biopharmaceutical company's stock.
The adjustment by H.C. Wainwright was attributed to a revision of estimates, including an increased anticipated diluted share count for the year 2024. This change in share count expectations led to the lowered price target. Nevertheless, the analyst remains optimistic about the company's prospects, as indicated by the sustained Buy rating.
Karyopharm's financial forecasts also saw some modifications. The firm's full-year 2024 earnings per share (EPS) estimate was slightly improved to a loss of ($1.29) from the previous estimate of a loss of ($1.32). This update suggests a marginal enhancement in the anticipated financial performance of Karyopharm Therapeutics.
The revenue outlook for the company remains unchanged, with the FY24 revenue estimate holding steady at $148.1 million. The sales forecast for Karyopharm's drug, Xpovio, is projected to be $111.1 million for 2024. Looking ahead, the analyst expects a significant growth in Xpovio sales, predicting an increase to $382.4 million by the year 2027.
In summary, while the price target for Karyopharm Therapeutics has been reduced to $7.00 from $8.00 by H.C. Wainwright, the firm's outlook on the stock remains positive, as evidenced by the reiteration of a Buy rating.
The company's EPS estimate for 2024 has seen a slight improvement, and its revenue forecast remains firm, with strong growth anticipated for its key product, Xpovio, over the next few years.
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