In a report released yesterday, Jonathan Chang from Leerink Partners reiterated a Buy rating on Kura Oncology, with a price target of $23.00.
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Jonathan Chang has given his Buy rating due to a combination of factors that highlight the potential of Kura Oncology’s farnesyltransferase inhibitor (FTI) programs, particularly KO-2806 in renal cell carcinoma (RCC). Despite the early stage of these efforts and limited clinical data, Chang sees significant commercial opportunities, estimating a peak U.S. market potential of approximately $1.5 billion for KO-2806 in RCC alone.
Kura’s complete ownership of KO-2806 and the potential for near-term data releases, such as those expected at the European Society for Medical Oncology Congress in 2025, add to the attractiveness of the investment. While the focus of investors has primarily been on Kura’s menin inhibitor efforts, Chang believes that the FTI programs could provide substantial upside to the stock. Overall, Kura is viewed as well-positioned for long-term success in executing its development strategy for both ziftomenib and its FTI initiatives.
In another report released on August 18, Mizuho Securities also maintained a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KURA in relation to earlier this year.