Kura Oncology (NASDAQ: KURA) has seen its price target elevated from $14.00 to $16.00 by UBS Group, as reported in a research note released on November 3, 2023. The investment firm maintains a buy rating on the stock, reflecting a positive outlook amid a flurry of recent analyst activity.
Several other brokerages have also issued reports regarding Kura Oncology. On October 8, Weiss Ratings reaffirmed a “sell (d-)” rating, while JMP Securities set a more optimistic price target of $24.00 with a “market outperform” designation on October 20. Guggenheim initiated coverage with a neutral rating on September 4, and Zacks Research improved its stance from a “strong sell” to a “hold” on November 5. Additionally, HC Wainwright reiterated a buy rating, establishing a price target of $40.00.
Currently, ten equity research analysts classify Kura Oncology as a buy, while four maintain a hold rating, and one analyst has assigned a sell rating. According to data from MarketBeat, the stock holds a consensus rating of “Moderate Buy” with an average price target of $25.11.
Recent Financial Performance
Kura Oncology last reported its quarterly earnings on November 4, revealing a loss of ($0.85) earnings per share (EPS), falling short of analysts’ consensus estimates of ($0.57) by $0.28. The company posted revenue of $20.75 million for the quarter, exceeding expectations of $17.48 million. Despite this revenue growth, Kura Oncology’s financials indicate a negative net margin of 208.48% and a negative return on equity of 65.42%. Analysts project that the company will report an EPS of ($2.44) for the current year.
Insider Trading Activity
In related news, recent insider trading activity has drawn attention. Senior Vice President Thomas James Doyle sold 4,539 shares on November 14 at an average price of $11.18, totaling approximately $50,746.02. Post-transaction, Doyle retains 130,257 shares, valued at around $1,456,273.26, marking a 3.37% decrease in ownership.
Chief Operating Officer Kathleen Ford also sold 6,902 shares on the same day, realizing approximately $77,164.36. After this transaction, Ford holds 105,373 shares valued at about $1,178,070.14, reflecting a 6.15% decrease in her ownership. Over the past ninety days, insiders have sold a total of 122,675 shares, valued at $1,196,657, and insiders collectively own 6.40% of the company’s stock.
Institutional Investor Movements
Institutional investor activity has also been notable, with BVF Inc. IL significantly increasing its stake in Kura Oncology by 202.0% in the first quarter, now owning 7,754,129 shares valued at $51,177,000. Armistice Capital LLC raised its holdings by 13.3% during the same period, now holding 6,572,000 shares worth $43,375,000. Vanguard Group Inc. and EcoR1 Capital LLC also expanded their positions during the third quarter, with Vanguard owning 5,468,522 shares and EcoR1 acquiring 4,200,000 shares.
Kura Oncology, a clinical-stage biopharmaceutical company, focuses on developing innovative treatments for cancer. Its pipeline includes promising candidates such as ziftomenib, which targets specific genetic subsets of acute leukemias, and tipifarnib, aimed at treating head and neck cancers. As the company navigates its financial landscape and strategic developments, investor confidence remains a crucial factor in its growth trajectory.
