Oppenheimer Keeps a Buy Rating on Kura Oncology

By Ryan Adsit

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Kura Oncology (NASDAQ: KURA) today and set a price target of $27. The company’s shares opened today at $17.05.

R. Cann observed:

“The KO-947 phase I program is on track for an on-time enrollment, with data expected in the second half of this year from the phase I study. Findings presented at AACR today could inform future clinical studies for KO-947, by targeting a subset of head and neck, and esophageal patients, based on a precision medicine model. We conclude that KO-947 continues to be a promising asset, based on preclinical data, but is not anticipated to have revenue impact to Kura Oncology by 2022; therefore, we are not making any adjustments to our estimates or outlook.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 12.1% and a 48.5% 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.

Based on Kura Oncology’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $10.75 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $7.53 million.

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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.