H.C. Wainwright Reaffirms Their Buy Rating on Kura Oncology (KURA)


H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Kura Oncology (KURA) today and set a price target of $29. The company’s shares closed yesterday at $19.63.

Pantginis observed:

“Valuation and impediments to achieving price target. We reiterate our Buy rating and are adjusting our price target to $29 from $31 based on the following factors: (1) adjustment to base year (positive effect); and (2) adjustment to fully diluted share count, taking into account the recent equity financing. The primary contributor to our valuation is tipifarninb (93.9%). Of tipifarnib’s contribution, 46.7% comes from the lead opportunity in HNSCC, with the remainder coming from the other indications currently being pursued (i.e., and CMML).”

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -10.2% and a 30.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kura Oncology with a $28 average price target, a 42.6% upside from current levels. In a report issued on July 18, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $28 price target.

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The company has a one-year high of $21.90 and a one-year low of $10.20. Currently, Kura Oncology has an average volume of 368.6K.

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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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