Shares of Kintara Therapeutics (NASDAQ: KTRA) jumped as much as 30% in today’s trading session. This can be attributed to the news of a fast track designation granted to the company by the FDA for its breast cancer candidate.
This will allow Kintara’s treatment to reach patients sooner if it were to eventually get approved. The stock has since given up a large chunk of its gains but still maintains a 12% gain on the day.
Is Kintara Stock a Buy?
Kintara stock has a Hold consensus rating based on two Holds assigned in the past three months. Interestingly, these analysts haven’t assigned a price target, implying that the stock is too unpredictable.