Kura Oncology’s (KURA) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Kura Oncology (NASDAQ:KURA) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $36.00 price objective on the stock.

A number of other brokerages also recently issued reports on KURA. Wall Street Zen raised Kura Oncology from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Citigroup reissued a “market outperform” rating on shares of Kura Oncology in a research report on Thursday, May 28th. Sanford C. Bernstein set a $24.00 target price on Kura Oncology in a research note on Monday, June 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kura Oncology in a research report on Thursday, June 4th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $24.00 price target on shares of Kura Oncology in a research note on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kura Oncology presently has an average rating of “Moderate Buy” and a consensus price target of $25.46.

Kura Oncology Stock Up 4.3%

Shares of Kura Oncology stock opened at $9.31 on Tuesday. The firm’s 50 day moving average price is $10.24 and its 200-day moving average price is $9.27. The company has a quick ratio of 6.14, a current ratio of 6.15 and a debt-to-equity ratio of 0.09. Kura Oncology has a 52-week low of $5.45 and a 52-week high of $12.49. The company has a market cap of $826.45 million, a P/E ratio of -2.78 and a beta of 0.35.

Kura Oncology (NASDAQ:KURA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.05. The company had revenue of $18.27 million during the quarter, compared to analysts’ expectations of $25.97 million. Kura Oncology had a negative net margin of 411.19% and a negative return on equity of 141.95%. On average, sell-side analysts predict that Kura Oncology will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kura Oncology news, insider Mollie Leoni sold 84,929 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $9.82, for a total transaction of $834,002.78. Following the transaction, the insider owned 182,345 shares in the company, valued at approximately $1,790,627.90. This represents a 31.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Kura Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in Kura Oncology by 115.3% during the fourth quarter. IFP Advisors Inc now owns 2,398 shares of the company’s stock valued at $25,000 after purchasing an additional 1,284 shares during the period. Allworth Financial LP boosted its holdings in Kura Oncology by 59.9% in the fourth quarter. Allworth Financial LP now owns 4,146 shares of the company’s stock valued at $43,000 after purchasing an additional 1,553 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Kura Oncology by 49.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,888 shares during the period. Insigneo Advisory Services LLC acquired a new stake in Kura Oncology during the fourth quarter worth about $105,000. Finally, LPL Financial LLC purchased a new position in Kura Oncology during the fourth quarter valued at approximately $105,000.

About Kura Oncology

Kura Oncology, Inc (NASDAQ: KURA) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted oncology therapies. Headquartered in La Jolla, California, the company leverages expertise in molecular biology and precision medicine to identify key drivers of cancer growth and design small-molecule inhibitors that block those pathways. Kura’s research platform integrates genomic insights with medicinal chemistry to advance candidates against well-validated targets in solid tumors and hematologic malignancies.

The company’s lead clinical candidate, tipifarnib, is a farnesyltransferase inhibitor being evaluated for the treatment of HRAS-mutant head and neck squamous cell carcinoma and various non-small cell lung cancers.