Oppenheimer analyst Leah R. Cann maintained a Buy rating on Kura Oncology (KURA) yesterday and set a price target of $32. The company’s shares closed on Friday at $12.70.
Cann said:
“Data presented today, 12/2, at ASH for Tipifarnib for the treatment of PTCL, specifically for patients with AITL and with high CXCL12 expression, demonstrated impressive results in this area of high unmet need. Tipifarnib is the only revenue contributor to product sales in our model at this time, and these results strongly support use of Tipifarnib in the PTCL setting. We anticipate tipifarnib will launch in 2020 and grow to $1.85 billion in sales by 2022.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 3.6% and a 42.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Kura Oncology has an analyst consensus of Strong Buy, with a price target consensus of $31.50.
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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 $9.33 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.
