Kura Oncology (KURA) Received its Third Buy in a Row

After Oppenheimer and Cowen & Co. gave Kura Oncology (NASDAQ: KURA) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Joseph Pantginis reiterated a Buy rating on Kura Oncology today and set a price target of $31. The company’s shares opened today at $16.85.

Pantginis observed:

“Valuation and impediments to achieving price target. We reiterate our Buy rating and $31 price target. 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. The remainder, or 6.1% of our valuation comes from KO-947, reflective of its early stage Phase 1 status.”

According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.7% and a 28.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

Currently, the analyst consensus on Kura Oncology is a Strong Buy with an average price target of $31, an 84.0% upside from current levels. In a report released today, Piper Jaffray also maintained a Buy rating on the stock.

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Based on Kura Oncology’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.1 million. In comparison, last year the company had a GAAP net loss of $14.6 million.

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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.