Wedbush Reiterates Outperform Rating for Kura Oncology (NASDAQ:KURA)

Kura Oncology (NASDAQ:KURA - Get Free Report)'s stock had its "outperform" rating reissued by Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $36.00 price objective on the stock. Wedbush's price target indicates a potential upside of 396.55% from the stock's current price.

A number of other brokerages also recently commented on KURA. Jefferies Financial Group reduced their price target on Kura Oncology from $32.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Scotiabank reduced their target price on Kura Oncology from $18.00 to $10.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Kura Oncology from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $28.00 price target on shares of Kura Oncology in a report on Thursday, February 6th. Finally, HC Wainwright reissued a "buy" rating and set a $40.00 price objective on shares of Kura Oncology in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.13.

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Kura Oncology Stock Down 6.0 %

Shares of KURA traded down $0.46 during mid-day trading on Thursday, reaching $7.25. 1,403,719 shares of the stock traded hands, compared to its average volume of 1,613,110. The stock has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $13.73. Kura Oncology has a 12-month low of $6.98 and a 12-month high of $24.17. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 0.02. The firm has a market cap of $563.79 million, a price-to-earnings ratio of -3.07 and a beta of 0.78.

Kura Oncology (NASDAQ:KURA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping 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. Sell-side analysts expect that Kura Oncology will post -2.44 EPS for the current fiscal year.

Insider Activity

In other Kura Oncology news, insider Mollie Leoni sold 4,963 shares of the firm's stock in a transaction dated 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 $694,551.11. This trade represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Thomas James Doyle sold 4,949 shares of Kura Oncology 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 $38,948.63. Following the completion of the transaction, the senior vice president now owns 88,193 shares of the company's stock, valued at approximately $694,078.91. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,729 shares of company stock valued at $92,307. Company insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Kura Oncology

Several large investors have recently added to or reduced their stakes in KURA. Suvretta Capital Management LLC grew its position in shares of Kura Oncology by 8.2% during the third quarter. Suvretta Capital Management LLC now owns 7,652,782 shares of the company's stock worth $149,535,000 after acquiring an additional 583,155 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kura Oncology by 14.6% during the 4th quarter. Vanguard Group Inc. now owns 4,818,898 shares of the company's stock valued at $41,973,000 after purchasing an additional 615,211 shares during the period. RA Capital Management L.P. bought a new position in Kura Oncology in the 4th quarter worth about $38,769,000. Millennium Management LLC raised its holdings in shares of 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 buying an additional 1,521,954 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Kura Oncology by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company's stock worth $34,798,000 after buying 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.