Oppenheimer Remains a Buy on Kura Oncology

In a report released yesterday, Leah R. Cann from Oppenheimer maintained a Buy rating on Kura Oncology (NASDAQ: KURA), with a price target of $27. The company’s shares closed yesterday at $16.05.

Cann observed:

“Kura’s clinical development of tipifarnib continues to expand. Programs are on track, with multiple data readouts anticipated this year. We are increasing our estimated loss per share in 2018 by 29% to account for higher estimated R&D expenses and slightly higher SG&A. R&D is being increased to $46.6 million from our prior estimate of $33.2 million. This is the result of the increasing number of clinical programs for tipifarnib. Our outlook for 2019 – 2022 is basically unchanged. We have slightly increased the estimated number of shares outstanding, which is modestly reducing loss per share in 2019 and our estimated EPS in 2020 – 2022.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 9.1% and a 47.9% 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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The company has a one-year high of $24.03 and a one-year low of $5.90. Currently, Kura Oncology has an average volume of 300.5K.

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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.