Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Kura Oncology, retaining the price target of $40.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors that highlight Kura Oncology’s promising future. The company has demonstrated financial strength, ending the quarter with $630.7 million in cash, which is expected to support operations until 2027. This financial stability is further bolstered by anticipated payments from their collaboration with Kyowa Kirin, which will aid in advancing the ziftomenib AML program.
Moreover, Kura Oncology’s ziftomenib has shown significant potential in treating AML, with strong efficacy and a favorable safety profile. The drug’s once-daily dosing and lack of drug-drug interactions make it a convenient option for patients. The positive results from the KOMET-001 and KOMET-007 trials, along with the anticipated initiation of global Phase 3 trials, underscore the drug’s potential in combination therapies. Additionally, Kura’s ongoing development of other assets, such as KO-2806 and tipifarnib, in various indications, further supports the Buy rating as the company is poised for value-driven growth.
In another report released today, Barclays also maintained a Buy rating on the stock with a $11.00 price target.