TD Cowen analyst Phil Nadeau has maintained their bullish stance on KURA stock, giving a Buy rating yesterday.
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Phil Nadeau has given his Buy rating due to a combination of factors including Kura Oncology’s strong financial position and promising clinical developments. Kura ended the second quarter with a substantial cash reserve of $631 million, which provides a solid foundation for its ongoing and future projects. Additionally, the New Drug Application (NDA) for Zifto in relapsed/refractory NPM1 AML is under priority review, with an anticipated approval by the November 30 PDUFA date. This potential approval is expected to enhance Kura’s market position significantly.
Furthermore, Kura’s pivotal KOMET-017 program in first-line AML is progressing well, with Phase I data for the ven/aza combination expected in the fourth quarter. The company has also aligned with regulatory bodies on the design of its Phase III trials, which are anticipated to begin in the second half of 2025. The management’s confidence in robust enrollment and the positive reception from sites and investigators further support the optimistic outlook for Kura’s clinical programs. These factors collectively contribute to Phil Nadeau’s Buy rating for Kura Oncology.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $24.00 price target.