Charles Zhu, an analyst from LifeSci Capital, maintained the Buy rating on Kura Oncology (KURA – Research Report). The associated price target was lowered to $24.00.
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Charles Zhu has given his Buy rating due to a combination of factors, primarily focusing on the promising progress of Kura Oncology’s KOMET-001 trial for monotherapy in relapsed/refractory NPM1-mutated acute myeloid leukemia (AML). The successful achievement of a statistically significant complete response rate positions the company for a potential U.S. regulatory submission, enhancing the company’s prospects for market entry with a peak addressable market valued at $350-400 million.
Additionally, Kura Oncology’s strategic alignment with the FDA for the KOMET-017 combination trials in first-line AML further supports the positive outlook. These trials are designed with endpoints that could allow for accelerated approval, highlighting the company’s potential for growth in the oncology space. The financial stability of Kura Oncology, with a cash runway of approximately four years, also contributes to the Buy rating, indicating the firm’s ability to sustain its development activities without immediate financial concerns.
In another report released on January 22, Jefferies also assigned a Buy rating to the stock with a $28.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KURA in relation to earlier this year.