Charles Zhu, an analyst from LifeSci Capital, maintained the Buy rating on Kura Oncology (KURA – Research Report). The associated price target remains the same with $24.00.
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Charles Zhu has given his Buy rating due to a combination of factors related to Kura Oncology’s promising clinical trial results and strategic developments. The company provided an update on their Phase 1a/b KOMET-007 trial, which showed consistent efficacy and no new cases of differentiation syndrome, a positive indicator for their menin inhibitor in treating AML patients. This aligns with previous data, reinforcing confidence in the drug’s potential.
Additionally, Kura’s financial position appears stable, with a cash runway of approximately 2.2 years, allowing them to continue their research and development efforts. The absence of significant adverse events in their trials, coupled with the anticipation of further updates in the second half of the year, supports the optimistic outlook. These elements together suggest a favorable risk-reward profile, justifying the Buy rating.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $29.00 price target.