JPMorgan Upgrades Karyopharm After Doctor Survey, Doubles Price Target

JPMorgan analyst Eric Joseph upgraded Karyopharm Therapeutics (KPTI) to Overweight from Neutral and doubled his price target for the shares to $16 from $8.

The analyst conducted a U.S. physician survey assessing Xpovio anticipated use in the approved indication of penta-refractory myeloma, as well as expectations around use in earlier-line settings.

The survey of 15 doctors data show favorable reception to Xpovio's clinical profile, with 75% respondents intending to write Xpovio for PR-MM within the next 12 months, Joseph tells investors in a research note. Importantly, nearly all respondents described the side-effect profile as manageable, which is "very encouraging," adds the analyst.

He sees a favorable reward/risk profile for Karyopharm shares at current levels. 

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