Bank of America Securities analyst Jason Zemansky maintained a Buy rating on Kura Oncology (KURA – Research Report) today and set a price target of $29.00.
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Jason Zemansky has given his Buy rating due to a combination of factors that highlight Kura Oncology’s promising position in the market. The company’s menin inhibitor, ziftomenib, shows significant potential in treating relapsed/refractory acute myeloid leukemia (R/R AML), with encouraging efficacy and safety profiles. The anticipated data presentation at ASCO further supports the drug’s approvability, and the competitive positioning against rivals remains strong.
Moreover, Kura Oncology’s strategic focus on the frontline setting for ziftomenib, with a projected $3 billion peak US sales potential, underscores its growth prospects. The company’s ability to execute clinical trials effectively, coupled with favorable FDA feedback, positions it as a leader in the menin inhibitor space. These factors, along with the favorable risk/reward profile and longer-term pipeline opportunities, justify the Buy rating and the price objective of $29.
Zemansky covers the Healthcare sector, focusing on stocks such as Cytokinetics, Insmed, and Madrigal Pharmaceuticals. According to TipRanks, Zemansky has an average return of 6.7% and a 46.48% success rate on recommended stocks.
In another report released on May 2, Barclays also maintained a Buy rating on the stock with a $11.00 price target.