Oppenheimer analyst Leah R. Cann maintained a Buy rating on Kura Oncology (NASDAQ: KURA) today and set a price target of $27. The company’s shares closed yesterday at $15.40.
R. Cann wrote:
“We believe the issuance of this patent is very important to Kura Oncology. Having patent protection for tipifarnib though 2037 in these hematologic settings, along with protection through 2036 in the head and neck settings, gives the company pricing strength for the potential drug, as well as optionality strategically. Tipifarnib is the only revenue contributor to product sales in our model at this time. We view this patent as very positive for Kura and supportive of our outlook.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 9.5% and a 48.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Kura Oncology has an analyst consensus of Moderate Buy, with a price target consensus of $27.50.
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Based on Kura Oncology’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $10.75 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $7.53 million.
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Kura Oncology, Inc. is a clinical-stage biopharmaceutical company engages in the research and development of medicines for the treatment of cancer. Its pipeline includes Tipifarnib which is a Farnesyl transferase inhibitor for HRAS Mutant Solid Tumors, Chronic Myelomonocytic Leukemia; KO-947 which is an ERK inhibitor for MAPK Pathway Tumors; and KO-539 which is a Menin MLL inhibitor for acute leukemias. The company was founded by Troy E. Wilson, Yi Liu, Pingda Ren and Antonio Gualberto on August 22, 2014 and is headquartered in La Jolla, CA.
