Stifel analyst Bradley Canino initiated coverage of Kura Oncology with a Buy rating and $25 price target. Kura Oncology’s stock remains below its price before the phase 1 data reveal for lead asset ziftomenib in R/R AML at ASH22, which highlighted competitive challenges and delays versus Syndax for the first class approval opportunities in genomically-defined patients, the analyst tells investors in a research note. The firm believes ziftomenib will be approved one year after Syndax in R/R NPM1m AML, and believes Kura has the ability to equalize its valuation and sales over time with the development of ziftomenib combinations.
Published first on TheFly
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