Kura Oncology, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on the stock and has a $28.00 price target.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Charles Zhu has given his Buy rating due to a combination of factors surrounding Kura Oncology’s recent developments. The FDA’s approval of Kura’s drug, Komzii, for treating relapsed/refractory NPM1m AML is a significant milestone, positioning it as the second menin inhibitor in this market. This approval comes with a competitive advantage, as Komzii’s label includes fewer severe warnings compared to its competitor, Revuforj, particularly regarding QTc prolongation risks.
Additionally, the pricing strategy for Komzii at $48,500 per month, while higher than anticipated, reflects its market positioning and potential. The drug’s label allows for a more favorable QTc eligibility cutoff, potentially broadening its patient base. Furthermore, the management’s strategic decisions, such as the dose interruption protocol for differentiation syndrome, highlight a thoughtful approach to patient safety and drug efficacy. These factors collectively underpin Zhu’s confidence in Kura Oncology’s stock potential.
In another report released on November 5, Bank of America Securities also reiterated a Buy rating on the stock with a $29.00 price target.
Based on the recent corporate insider activity of 31 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.