Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Kura Oncology, retaining the price target of $28.00.
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Charles Zhu has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical data presented by Kura Oncology. The recent updates from the KOMET-007 trial showcased competitive response rates in newly diagnosed NPM1m AML patients, with a high complete response rate and a favorable safety profile compared to other treatments. These results position Kura’s ziftomenib in a strong competitive stance, especially in combination therapies.
Furthermore, the initiation of the pivotal Phase 3 KOMET-017 trial with a primary endpoint that could lead to accelerated approval underscores the potential for significant clinical advancement. The strategic partnership with Kyowa Kirin also provides financial backing, ensuring continued progress in their clinical trials. These elements, combined with the company’s solid cash position, contribute to the positive outlook and justify the Buy rating.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $30.00 price target.