Leerink Partners Resumes Kura Oncology (KURA) at Outperform; Data Rich 2017
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Leerink Partners resumes coverage on Kura Oncology (NASDAQ: KURA) with a Outperform rating and a price target of $15, citing attractive risk/reward ahead of a data rich 2017.
Analyst Jonathan Chang commented, "We are resuming coverage of Kura Oncology (KURA) with an Outperform (OP) rating and a $15 price target (PT). We view KURA's lead pipeline program, tipifarnib (a farnesyltransferase inhibitor) as a safe and active drug. KURA licensed worldwide rights to tipifarnib in oncology from Janssen (JNJ [OP]), which previously evaluated tipifarnib broadly across various hematologic and solid tumors with limited success. We believe KURA's precision medicine approach to developing tipifarnib in biomarker-defined patients offers the opportunity to improve on past efforts."
Shares of Kura Oncology closed at $5.60 yesterday.
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