Analyst Jason McCarthy of Maxim Group maintained a Buy rating on TuHURA Biosciences (HURA – Research Report), retaining the price target of $15.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including the initiation of a Phase 3 study for TuHURA Biosciences’ IFx-2.0 in combination with Keytruda for first-line metastatic Merkel cell carcinoma. This study is under a Special Protocol Assessment with the FDA, which could lead to accelerated approval based on the overall response rate, followed by full approval based on progression-free survival. The previous Phase 1b study showed promising results with a 63% overall response rate, which supports the potential success of the Phase 3 trial.
Additionally, the recent approval of the merger between TuHURA and Kineta Inc. is a significant factor in the Buy rating. This merger will bring Kineta’s anti-VISTA antibody into TuHURA’s pipeline, with plans to advance it into a Phase 2 study for acute myeloid leukemia. The strategic expansion of TuHURA’s therapeutic offerings and the promising clinical trial developments contribute to the positive outlook for the company’s stock.
In another report released on June 23, Brookline Capital Markets also initiated coverage with a Buy rating on the stock with a $9.00 price target.