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Karyopharm price target lowered to $33 from $43 at RBC Capital

RBC Capital lowered the firm’s price target on Karyopharm (KPTI) to $33 from $43 and keeps an Outperform rating on the shares after its Q1 results. There were a few incrementally unfavorable updates this quarter, as slowing enrollment for the SENTRY phase 3 Myelofibrosis – MF – study is pushing data out to December/January – beyond the company’s cash runway, the analyst tells investors in a research note. RBC adds however that Phase 2 data in heavily-pretreated MF continues to support seli’s potential MF activity, and the firm sees both MF and EC offer very realistically-achievable shots on goal in indications that could meaningfully inflect revenue.

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