Bank of America Securities analyst Jason Zemansky has reiterated their bullish stance on KURA stock, giving a Buy rating today.
Jason Zemansky has given his Buy rating due to a combination of factors that suggest potential growth for Kura Oncology. Despite a quieter fourth quarter and a miss on GAAP EPS, Zemansky believes the recent weakness in Kura’s stock is exaggerated. The company remains optimistic about the near-term approval of its menin inhibitor, ziftomenib, for treating R/R NPM1m AML, with an NDA submission on track for the second quarter.
Furthermore, Zemansky highlights the competitive advantage of ziftomenib’s safety and tolerability profile, which lacks significant side effects such as QTc prolongation and drug-drug interactions, making it favorable among prescribers. Additionally, the potential for positive outcomes from the frontline combination dose expansion data expected in 2025 adds to the bullish outlook. These factors, combined with a favorable risk/reward profile, underpin Zemansky’s Buy rating and the price objective of $29.
In another report released today, Barclays also maintained a Buy rating on the stock with a $32.00 price target.
KURA’s price has also changed dramatically for the past six months – from $20.540 to $7.770, which is a -62.17% drop .