Kura Oncology (NASDAQ:KURA) Price Target Cut to $24.00 by Analysts at JMP Securities

Key Points

• Kura Oncology's price target has been reduced from $28.00 to $24.00 by JMP Securities, while still maintaining a "market outperform" rating on the stock.
• Despite a disappointing earnings report showing a loss of ($0.75) EPS and revenues significantly below estimates, some analysts still maintain positive ratings, with targets ranging from $24.00 to $40.00.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $24.10, indicating potential for significant upside from its current low share price.

Kura Oncology (NASDAQ:KURA - Get Free Report) had its price target decreased by equities researchers at JMP Securities from $28.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 333.21% from the company's current price.

Several other equities research analysts have also weighed in on the company. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Kura Oncology in a research report on Monday, April 28th. Mizuho dropped their price target on Kura Oncology from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Kura Oncology in a research note on Thursday, June 26th. Wall Street Zen downgraded Kura Oncology from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Wedbush restated an "outperform" rating and set a $36.00 price target on shares of Kura Oncology in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.10.

Kura Oncology Price Performance

Shares of NASDAQ KURA opened at $5.54 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.16 and a current ratio of 6.16. Kura Oncology has a fifty-two week low of $5.41 and a fifty-two week high of $21.57. The firm has a market capitalization of $480.87 million, a PE ratio of -2.45 and a beta of 0.41. The stock's 50-day simple moving average is $6.21 and its 200-day simple moving average is $6.68.

Kura Oncology (NASDAQ:KURA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.90). The firm had revenue of $15.29 million during the quarter, compared to analyst estimates of $64.95 million. As a group, equities research analysts forecast that Kura Oncology will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new stake in shares of Kura Oncology in the 1st quarter valued at approximately $48,000. Virtus ETF Advisers LLC lifted its holdings in shares of Kura Oncology by 71.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 7,336 shares of the company's stock valued at $64,000 after buying an additional 3,061 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Kura Oncology in the 1st quarter valued at approximately $66,000. Flower City Capital acquired a new stake in shares of Kura Oncology in the 1st quarter valued at approximately $79,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Kura Oncology in the 1st quarter valued at approximately $79,000.

Kura Oncology Company Profile

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. The company's pipeline consists of small molecule product candidates that target cancer. Its lead product candidates are ziftomenib, an orally bioavailable small molecule inhibitor of the menin-KMT2A interaction for the treatment of genetically defined subsets of acute leukemias, including acute myeloid leukemia and acute lymphoblastic leukemia; tipifarnib, an orally bioavailable farnesyl transferase inhibitor combination with alpelisib for patients with PIK3CA-dependent HNSCC; and KO-2806, a farnesyl transferase inhibitor for the treatment of solid tumors.

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