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Read Why Did Credit Suisse Raise Price Target On Kura Oncology

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·1 min read
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  • Credit Suisse has raised the price target on Kura Oncology Inc (NASDAQ: KURA) to $29 from $27.

  • The analysts say that evidence of an effective and tolerable agent and a clear recommended phase 2 dose for ziftomenib should support an upside of ~$8-10/share to their NPV. A topline update from Phase 1b study is expected in Q3 and detailed data in Q4.

  • Downside scenarios include an incomplete/inconclusive update that may disappoint expectations, though the scenario is unlikely.

  • Fully de-risked, Credit Suisse believes the relapsed or refractory setting might be worth ~$18/share, with expansion into the frontline setting taking the total asset value to ~$40-45/share.

  • The analysts view ziftomenib as best-in-class potential among the menin inhibitors, as it may differentiate on tolerability/safety and allow for a more comprehensive combo strategy.

  • With initial approval in 2025, peak sales can potentially be over $1 billion, assuming successful frontline expansion.

  • Kura's management has consistently said that a 20-30% CR/CRh rate with mDOR 4-6 months would likely be an approvable profile, consistent with the company's survey/KOLs.

  • Price Action: KURA shares are up 6.15% at $19.04 during the market session on the last check Wednesday.

Latest Ratings for KURA

Date

Firm

Action

From

To

Feb 2022

Credit Suisse

Maintains

Outperform

Feb 2022

SVB Leerink

Maintains

Outperform

Feb 2022

Jefferies

Initiates Coverage On

Buy

View More Analyst Ratings for KURA

View the Latest Analyst Ratings

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