Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on Kura Oncology and keeping the price target at $28.00.
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Charles Zhu has given his Buy rating due to a combination of factors surrounding Kura Oncology’s recent developments. The company has announced the commercial availability of its lead menin inhibitor, Komzii, which has been approved for use in adults with relapsed or refractory NPM1-mutated acute myeloid leukemia (AML). This approval is significant as Komzii has received a Category 2A recommendation within the NCCN guidelines, indicating a strong endorsement for its use in this indication.
Furthermore, Zhu highlights Komzii’s favorable safety profile, particularly regarding QTc prolongation, which is a common concern with similar treatments. Unlike its competitor revumenib, Komzii’s label has a more lenient QTc eligibility cutoff, potentially allowing a broader patient population to benefit from the treatment. Additionally, the absence of a QTc black box warning enhances its appeal for combination therapies, which could expand its use in real-world settings. These factors contribute to Zhu’s positive outlook on Kura Oncology’s stock.
In another report released on November 24, Barclays also reiterated a Buy rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 41 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.