Kura Oncology (NASDAQ:KURA) Shares Gap Down on Analyst Downgrade

Shares of Kura Oncology, Inc. (NASDAQ:KURA) gapped down before the market opened on Thursday after Jefferies Financial Group lowered their price target on the stock from $32.00 to $28.00. The stock had previously closed at $15.91, but opened at $11.80. Jefferies Financial Group currently has a buy rating on the stock. Kura Oncology shares last traded at $9.78, with a volume of 3,092,133 shares trading hands.

A number of other brokerages have also recently issued reports on KURA. Lifesci Capital upgraded shares of Kura Oncology to a “strong-buy” rating in a research note on Tuesday, October 22nd. UBS Group began coverage on shares of Kura Oncology in a research note on Thursday, October 24th. They issued a “buy” rating and a $27.00 target price on the stock. Stifel Nicolaus downgraded shares of Kura Oncology from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $19.00 in a research report on Monday, October 14th. HC Wainwright upped their price objective on Kura Oncology from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Kura Oncology in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Hedge Funds Weigh In On Kura Oncology

Several large investors have recently added to or reduced their stakes in KURA. nVerses Capital LLC bought a new stake in Kura Oncology in the 3rd quarter valued at $25,000. SG Americas Securities LLC purchased a new position in Kura Oncology during the 1st quarter valued at approximately $110,000. Point72 DIFC Ltd bought a new stake in Kura Oncology in the 3rd quarter worth approximately $146,000. Quarry LP purchased a new stake in shares of Kura Oncology during the 2nd quarter worth approximately $196,000. Finally, Erste Asset Management GmbH bought a new position in shares of Kura Oncology during the 3rd quarter valued at approximately $215,000.

Kura Oncology Stock Performance

The stock has a market capitalization of $811.81 million, a PE ratio of -4.73 and a beta of 0.86. The business’s fifty day moving average is $18.28 and its two-hundred day moving average is $19.82. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 0.02.

About Kura Oncology

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. The company’s pipeline consists of small molecule product candidates that target cancer. Its lead product candidates are ziftomenib, an orally bioavailable small molecule inhibitor of the menin-KMT2A interaction for the treatment of genetically defined subsets of acute leukemias, including acute myeloid leukemia and acute lymphoblastic leukemia; tipifarnib, an orally bioavailable farnesyl transferase inhibitor combination with alpelisib for patients with PIK3CA-dependent HNSCC; and KO-2806, a farnesyl transferase inhibitor for the treatment of solid tumors.