Wedbush Forecasts Strong Price Appreciation for Kura Oncology (NASDAQ:KURA) Stock

Kura Oncology (NASDAQ:KURA) had its target price upped by analysts at Wedbush from $34.00 to $36.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 316.18% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $32.00 target price on shares of Kura Oncology in a report on Tuesday, November 19th. Bank of America decreased their target price on Kura Oncology from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Stifel Nicolaus lowered shares of Kura Oncology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $26.00 to $19.00 in a report on Monday, October 14th. UBS Group assumed coverage on Kura Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Lifesci Capital raised Kura Oncology to a “strong-buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kura Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $27.13.

Kura Oncology Stock Down 1.9 %

Shares of NASDAQ:KURA opened at $8.65 on Thursday. The company has a market capitalization of $672.62 million, a P/E ratio of -3.67 and a beta of 0.78. Kura Oncology has a 52-week low of $6.98 and a 52-week 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 stock’s fifty day simple moving average is $8.79 and its 200-day simple moving average is $15.11.

Kura Oncology (NASDAQ:KURA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.01. During the same quarter last year, the business posted ($0.50) EPS. As a group, equities research analysts forecast 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 company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total transaction of $39,058.81. Following the completion of the transaction, the insider now directly owns 88,253 shares in the company, valued at $694,551.11. This represents a 5.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Thomas James Doyle sold 4,949 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total value of $38,948.63. Following the completion of the sale, the senior vice president now directly owns 88,193 shares in the company, valued at $694,078.91. This 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 12,255 shares of company stock valued at $100,739. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Kura Oncology

Hedge funds and other institutional investors have recently modified their holdings of the company. Suvretta Capital Management LLC lifted its position in Kura Oncology by 8.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 7,652,782 shares of the company’s stock valued at $149,535,000 after purchasing an additional 583,155 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $34,798,000 after buying an additional 41,535 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Kura Oncology by 1.5% during the third quarter. Franklin Resources Inc. now owns 1,588,401 shares of the company’s stock worth $28,687,000 after buying an additional 23,113 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kura Oncology by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 635,494 shares of the company’s stock valued at $5,535,000 after acquiring an additional 10,542 shares during the period. Finally, Alethea Capital Management LLC raised its stake in Kura Oncology by 108.2% during the 3rd quarter. Alethea Capital Management LLC now owns 553,542 shares of the company’s stock valued at $10,816,000 after acquiring an additional 287,636 shares in the last quarter.

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.