Zacks Investment Research Downgrades Kura Oncology (NASDAQ:KURA) to Hold

Kura Oncology (NASDAQ:KURA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Kura Oncology, Inc. is a biopharmaceutical company. The company is involved in the discovery and development of therapeutics for the treatment of tumors and blood cancers. Its product pipeline includes small molecule drug candidates which are in different clinical trial consists of Tipifarnib-HRAS, Tipifarnib-PTCL, ERK inhibitor program and Menin MLL inhibitor program. Kura Oncology, Inc. is headquartered in La Jolla, California. “

A number of other research firms have also issued reports on KURA. Deutsche Bank began coverage on shares of Kura Oncology in a report on Thursday, July 18th. They set a “buy” rating and a $28.00 target price for the company. Cowen reaffirmed a “buy” rating on shares of Kura Oncology in a report on Monday, June 17th. BidaskClub lowered shares of Kura Oncology from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Leerink Swann set a $27.00 target price on shares of Kura Oncology and gave the stock a “buy” rating in a report on Saturday, June 15th. Finally, Citigroup upped their target price on shares of Kura Oncology from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kura Oncology currently has a consensus rating of “Buy” and an average price target of $27.89.

Shares of NASDAQ KURA opened at $16.25 on Wednesday. The firm has a fifty day moving average of $19.21 and a 200 day moving average of $16.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 23.50 and a quick ratio of 23.50. Kura Oncology has a one year low of $10.20 and a one year high of $21.42.

Kura Oncology (NASDAQ:KURA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. As a group, equities research analysts forecast that Kura Oncology will post -1.61 earnings per share for the current fiscal year.

In related news, insider Antonio Gualberto sold 18,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $21.11, for a total value of $379,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Kura Oncology by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 121,473 shares of the company’s stock valued at $1,706,000 after buying an additional 9,218 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Kura Oncology in the 4th quarter valued at approximately $2,222,000. Legal & General Group Plc grew its stake in Kura Oncology by 21.7% in the 4th quarter. Legal & General Group Plc now owns 5,175 shares of the company’s stock valued at $73,000 after buying an additional 923 shares in the last quarter. CWM LLC purchased a new position in Kura Oncology in the 1st quarter valued at approximately $25,000. Finally, Bailard Inc. grew its stake in Kura Oncology by 28.3% in the 1st quarter. Bailard Inc. now owns 38,500 shares of the company’s stock valued at $639,000 after buying an additional 8,500 shares in the last quarter. 79.65% of the stock is owned by hedge funds and other institutional investors.

Kura Oncology Company Profile

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. Its pipeline consists of small molecule product candidates that target cancer. The company's lead product candidate is Tipifarnib, an oral farnesyl transferase inhibitor that is in Phase II clinical trials for the treatment of solid tumors, peripheral T-cell lymphomas, myelodysplastic syndromes, acute myeloid leukemia, and chronic myelomonocytic leukemia.

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