UPDATE: Bank of America Reiterates on Karyopharm Therapeutics on Significant Catalysts in 2014
In a report published Thursday, Bank of America analyst Steve Byrne reiterated a Buy rating on Karyopharm Therapeutics (NASDAQ: KPTI), and raised the price target from $40.00 to $48.00.
In the report, Bank of America noted, “We are raising our PO to $48 (from $40) based on the potential for use in solid tumors beyond our previously modeled colorectal cancer estimates. We maintain our 25% probability of approval estimate, which could increase post updates at ASCO and EHA (below). Two registration studies in elderly AML and DLBCL are expected to start this year, based on compelling phase 1 data. KPTI also plans to start several phase 2 trials in solid tumors in 2014.
"We maintain our Buy rating and view Selinexor as having significant anti-tumor efficacy and potential as part of a larger oncology platform due to its broad scope and likely synergies with other cancer therapies. We expect significant news flow for Selinexor in 2014 in both solid and hematologic malignancies, which could add upside to our estimates.”
Karyopharm Therapeutics closed on Wednesday at $37.99.
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