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OnKure Therapeutics initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of OnKure Therapeutics (OKUR) with an Outperform rating. OnKure “has a lot to prove” with their upcoming Phase 1 results, but if they can maintain a cleaner safety profile than competitors and win a partnership with an early-line combination, the firm expects “significant upside,” Evercore tells investors. However, if the company falters on either front, the firm argues that “even an active drug will struggle to find relevance,” adding that safety in combination is the key to unlocking upside and where OnKure “looks most differentiated.”

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