TuHURA Biosciences (HURA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $15.00 price target.
Jason McCarthy has given his Buy rating due to a combination of factors including TuHURA Biosciences’ promising developments in their anti-VISTA antibody candidate, KVA12123, and their DNA-based immune activator, IFx-2.0. The company recently presented positive data at the American Association for Cancer Research meeting, showcasing favorable pharmacokinetic and pharmacodynamic profiles for KVA12123, with high receptor occupancy and no dose-limiting toxicities observed. This positions the candidate well for further development in combination with existing checkpoint inhibitors.
Additionally, TuHURA’s IFx-2.0 has shown significant potential in overcoming resistance to anti-PD1 therapies, particularly in Merkel cell carcinoma. The promising results have led to a Special Protocol Assessment agreement with the FDA for a Phase 3 trial, which could lead to accelerated approval if successful. These advancements, coupled with the anticipated closing of the Kineta acquisition, underscore the company’s strategic positioning and potential for growth, justifying the Buy rating.
HURA’s price has also changed moderately for the past six months – from $5.240 to $3.970, which is a -24.24% drop .