Wedbush Reaffirms “Outperform” Rating for Kura Oncology (NASDAQ:KURA)

Kura Oncology (NASDAQ:KURA)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They presently have a $36.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 366.93% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Kura Oncology in a research report on Thursday. StockNews.com lowered Kura Oncology from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Scotiabank lowered their price target on Kura Oncology from $18.00 to $10.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price objective on shares of Kura Oncology in a report on Thursday, February 6th. Finally, BTIG Research lowered Kura Oncology from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kura Oncology presently has an average rating of “Moderate Buy” and an average price target of $27.13.

Kura Oncology Trading Up 0.8 %

Kura Oncology stock opened at $7.71 on Thursday. Kura Oncology has a 12 month low of $6.98 and a 12 month high of $24.17. The company has a market capitalization of $599.56 million, a price-to-earnings ratio of -3.27 and a beta of 0.78. The business’s fifty day simple moving average is $8.16 and its two-hundred day simple moving average is $13.88. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 0.02.

Kura Oncology (NASDAQ:KURA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.43. The firm had revenue of $53.88 million for the quarter, compared to analysts’ expectations of $57.96 million. As a group, equities analysts predict that Kura Oncology will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mollie Leoni sold 4,963 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $7.87, for a total value of $39,058.81. Following the transaction, the insider now owns 88,253 shares of the company’s stock, valued at approximately $694,551.11. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Thomas James Doyle sold 4,949 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $7.87, for a total transaction of $38,948.63. Following the sale, the senior vice president now owns 88,193 shares of the company’s stock, valued at $694,078.91. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,729 shares of company stock valued at $92,307. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Kura Oncology

A number of institutional investors have recently bought and sold shares of KURA. Suvretta Capital Management LLC increased its position in Kura Oncology by 8.2% in the third quarter. Suvretta Capital Management LLC now owns 7,652,782 shares of the company’s stock worth $149,535,000 after buying an additional 583,155 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kura Oncology by 14.6% in the 4th quarter. Vanguard Group Inc. now owns 4,818,898 shares of the company’s stock worth $41,973,000 after acquiring an additional 615,211 shares in the last quarter. RA Capital Management L.P. bought a new stake in Kura Oncology during the 4th quarter worth approximately $38,769,000. Millennium Management LLC lifted its holdings in Kura Oncology by 180.1% during the fourth quarter. Millennium Management LLC now owns 2,367,148 shares of the company’s stock valued at $20,618,000 after purchasing an additional 1,521,954 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Kura Oncology by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company’s stock worth $34,798,000 after purchasing an additional 41,535 shares during the period.

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.