In a report released today, Mara Goldstein from Mizuho Securities reiterated a Buy rating on Kura Oncology (KURA – Research Report), with a price target of $26.00.
Mara Goldstein has given her Buy rating due to a combination of factors surrounding Kura Oncology’s recent developments. The financing news indicated a substantial private placement of $150 million which strengthens the company’s financial position, extending its operational capabilities into 2027. This investment provides Kura Oncology with the necessary capital to continue the full development of their drug candidate, ziftomenib, for relapsed/refractory acute myeloid leukemia (r/r AML).
Additionally, the anticipation of positive preliminary data from the KOMET-007 study is another key reason for the bullish stance. The upcoming investor event is expected to reveal that ziftomenib, when used in combination with standard care treatments, may demonstrate a reduction in differentiation syndrome, a significant adverse event that has previously cast a shadow over the drug’s profile. Goldstein believes that the combination trials of ziftomenib could expand its market potential, reinforcing the Buy rating for Kura Oncology’s stock.
In another report released on January 21, Jefferies also maintained a Buy rating on the stock with a $32.00 price target.
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Kura Oncology (KURA) Company Description:
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.
Read More on KURA:
- Kura Oncology Announces Oversubscribed $150 Million Private Placement
- Nike downgraded, Waste Management upgraded: Wall Street’s top analyst calls
- Kura Oncology initiated with a Buy at Mizuho
- Cantor Fitzgerald healthcare analysts hold an analyst/industry conference call
- Kura Oncology’s Menin Inhibitor Ziftomenib Selected for The Leukemia & Lymphoma Society’s Pediatric Acute Leukemia (PedAL) Master Clinical Trial
