Kura Oncology (NASDAQ:KURA) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Kura Oncology with an “overweight” rating and a $30 price target, implying approximately 180% upside from the stock’s $10.71 price. The analyst consensus is “Moderate Buy,” with an average target of $25.69.
• Kura reported a quarterly loss of $0.77 per share, beating analyst expectations of a $0.88 loss, while revenue of $20.87 million exceeded estimates of $20.16 million.
• Company insiders have been selling shares: insiders sold 153,881 shares worth approximately $1.71 million over the prior 90 days, though corporate insiders still own 7.6% of the stock.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Kura Oncology (NASDAQ:KURA - Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set an "overweight" rating and a $30.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 180.11% from the company's current price.

A number of other equities analysts have also recently commented on the company. Sanford C. Bernstein set a $24.00 target price on Kura Oncology in a report on Monday, June 15th. Wells Fargo & Company set a $24.00 price target on shares of Kura Oncology in a research report on Thursday, June 4th. Wedbush raised their price objective on shares of Kura Oncology from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Kura Oncology in a report on Friday, July 17th. Finally, CLSA set a $24.00 price objective on Kura Oncology in a research report on Thursday, June 4th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Kura Oncology currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.69.

Kura Oncology Stock Down 0.9%

Shares of NASDAQ KURA opened at $10.71 on Thursday. The company has a quick ratio of 4.71, a current ratio of 4.73 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $11.22 and its two-hundred day moving average is $10.17. Kura Oncology has a 52-week low of $7.36 and a 52-week high of $13.90. The firm has a market cap of $952.76 million, a price-to-earnings ratio of -3.18 and a beta of 0.44.

Kura Oncology (NASDAQ:KURA - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.11. Kura Oncology had a negative return on equity of 207.18% and a negative net margin of 384.30%.The business had revenue of $20.87 million during the quarter, compared to analyst estimates of $20.16 million. Research analysts predict that Kura Oncology will post -3.25 EPS for the current year.

Insider Buying and Selling

In other Kura Oncology news, SVP Thomas Doyle sold 4,607 shares of Kura Oncology stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $10.50, for a total transaction of $48,373.50. Following the completion of the sale, the senior vice president directly owned 142,428 shares of the company's stock, valued at $1,495,494. The trade was a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kathleen Ford sold 3,668 shares of the company's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $10.75, for a total value of $39,431.00. Following the transaction, the chief operating officer directly owned 142,986 shares of the company's stock, valued at approximately $1,537,099.50. This represents a 2.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 153,881 shares of company stock valued at $1,708,183 over the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kura Oncology

Several hedge funds have recently added to or reduced their stakes in KURA. IFP Advisors Inc lifted its position in shares of Kura Oncology by 115.3% during the 4th quarter. IFP Advisors Inc now owns 2,398 shares of the company's stock worth $25,000 after buying an additional 1,284 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Kura Oncology by 49.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,742 shares of the company's stock worth $60,000 after acquiring an additional 1,888 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in Kura Oncology in the first quarter valued at $96,000. Allworth Financial LP acquired a new position in Kura Oncology in the second quarter valued at $113,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Kura Oncology during the second quarter worth about $132,000.

Kura Oncology Company Profile

Kura Oncology, Inc is a biopharmaceutical company focused on developing precision medicines for the treatment of cancer. The company's research programs target specific genetic and molecular abnormalities that contribute to tumor growth, with an emphasis on hematologic malignancies and selected solid tumors.

Kura's leading program has been ziftomenib, an oral, selective menin inhibitor being developed for genetically defined forms of acute myeloid leukemia, including cancers with NPM1 mutations or certain KMT2A rearrangements.

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