Oppenheimer Reiterates a Buy Rating on Kura Oncology

By Jason Carr

Oppenheimer analyst Leah R. Cann reiterated a Buy rating on Kura Oncology (NASDAQ: KURA) today and set a price target of $16. The company’s shares opened today at $9.

R. Cann commented:

“Loss per share was $0.39, compared to our estimated loss of $0.50. This was the result of lower than estimated operating expenses. Our outlook for 2017-2019 is being adjusted for lower operating expenses by 36.7%, 55.5% and 21%, respectively. Our outlook for 2020-2022 remains basically unchanged with only modest adjustments to estimated number of shares outstanding decreasing our EPS by 1.6% in each of these years.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 8.6% and a 62.2% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Seattle Genetics, and Acceleron Pharma.

Kura Oncology has an analyst consensus of Moderate Buy, with a price target consensus of $16.

The company has a one year high of $12.10 and a one year low of $2.50. Currently, Kura Oncology has an average volume of 67.71K.

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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.