TD Cowen analyst Phil Nadeau has maintained their bullish stance on KURA stock, giving a Buy rating on April 29.
Phil Nadeau has given his Buy rating due to a combination of factors that highlight Kura Oncology’s promising future prospects. The company has demonstrated strong financial health, ending the first quarter with a substantial pro forma cash balance of $703 million, which includes a significant milestone payment related to the submission of ziftomenib’s NDA. This financial position is expected to support the ongoing development of their key asset, ziftomenib, without immediate financial constraints.
Moreover, Kura Oncology’s recent achievements in their clinical trials further bolster confidence in their potential. The pivotal Phase II KOMET-001 trial of ziftomenib in r/r NPM-1 mutant AML achieved its primary endpoint, and the company is set to present detailed results at the upcoming ASCO meeting. Additionally, Kura has aligned with regulatory bodies on the design of their Phase III KOMET-017 program, which is anticipated to begin in the second half of 2025. These developments, coupled with the company’s breakthrough drug status, suggest a promising outlook for accelerated review and potential market success.
In another report released on April 29, JMP Securities also reiterated a Buy rating on the stock with a $28.00 price target.