HC Wainwright reaffirmed their buy rating on shares of Kura Oncology (NASDAQ:KURA) in a research report sent to investors on Friday morning, AnalystRatings.com reports. The firm currently has a $29.00 target price on the stock.
“Valuation and impediments to achieving price target. We reiterate our Buy rating and are adjusting our price target to $29 from $31 based on the following factors: (1) adjustment to base year (positive effect); and (2) adjustment to fully diluted share count, taking into account the recent equity financing. The primary contributor to our valuation is tipifarninb (93.9%). Of tipifarnib’s contribution, 46.7% comes from the lead opportunity in HNSCC, with the remainder coming from the other indications currently being pursued (i.e., and CMML).”,” HC Wainwright’s analyst wrote.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Kura Oncology from a buy rating to a hold rating in a report on Tuesday, July 23rd. Cowen reissued a buy rating on shares of Kura Oncology in a research report on Monday, June 17th. Leerink Swann set a $27.00 price target on Kura Oncology and gave the stock a buy rating in a research report on Saturday, June 15th. Citigroup boosted their price target on Kura Oncology from $18.00 to $25.00 and gave the stock a buy rating in a research report on Friday, May 24th. Finally, Zacks Investment Research cut Kura Oncology from a buy rating to a hold rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Kura Oncology presently has a consensus rating of Buy and an average target price of $28.00.
Kura Oncology (NASDAQ:KURA) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. As a group, research analysts forecast that Kura Oncology will post -1.69 earnings per share for the current fiscal year.
In related news, insider Antonio Gualberto sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $21.11, for a total value of $379,980.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC bought a new position in Kura Oncology in the 1st quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its stake in shares of Kura Oncology by 164.9% during the second quarter. Meeder Asset Management Inc. now owns 1,934 shares of the company’s stock worth $38,000 after purchasing an additional 1,204 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kura Oncology by 599.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,824 shares of the company’s stock valued at $56,000 after purchasing an additional 2,420 shares during the last quarter. Legacy Advisors LLC acquired a new position in Kura Oncology in the 1st quarter valued at about $65,000. Finally, Great West Life Assurance Co. Can acquired a new position in Kura Oncology in the 4th quarter valued at about $62,000. 83.82% of the stock is currently owned by institutional investors and hedge funds.
About Kura Oncology
Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. Its pipeline consists of small molecule product candidates that target cancer. The company's lead product candidate is Tipifarnib, an oral farnesyl transferase inhibitor that is in Phase II clinical trials for the treatment of solid tumors, peripheral T-cell lymphomas, myelodysplastic syndromes, acute myeloid leukemia, and chronic myelomonocytic leukemia.
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