Kura Oncology (KURA) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Jay Olson maintained a Buy rating on Kura Oncology (KURA) yesterday and set a price target of $28. The company’s shares closed yesterday at $14.81.

Olson observed:

“KURA reported 4Q EPS of ($0.42), in line with consensus, and YE cash of $179.0M, which will support operations into 2021, according to management. KURA also entered into a common stock sales agreement for up to $75M. The business update included a focus on three ongoing Ph2 trials with tipifarnib expecting data in 2019: 1) Additional HRAS+ r/rHNSCC Ph2 data (RUN-HN) in 2H19 (maybe ESMO). The registrational trial in HRAS+ r/rHNSCC patients (AIM-HN) could have data in 2021. 2) More mature data from Ph2 PTCL/AITL mid-2019. 3) Ph2 CMML data stratified for CXCL12 in 2H19. The early pipeline is strengthened by KO-947, an ERK inhibitor with Ph1 data expected in 2019, and KO-539, a menin-MLL inhibitor, entering the clinic in 2Q19.”

According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.8% and a 42.9% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Spero Therapeutics Inc, and Enanta Pharmaceuticals.

Kura Oncology has an analyst consensus of Moderate Buy, with a price target consensus of $29.50.

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Based on Kura Oncology’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.01 million. In comparison, last year the company had a GAAP net loss of $10.75 million.

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Kura Oncology, Inc. operates as a clinical-stage biopharmaceutical company which 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.

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