Bank of America Has Lowered Expectations for Kura Oncology (NASDAQ:KURA) Stock Price

Kura Oncology (NASDAQ:KURA) had its price objective reduced by stock analysts at Bank of America from $36.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 189.97% from the stock’s previous close.

Several other equities analysts also recently weighed in on KURA. UBS Group started coverage on Kura Oncology in a report on Thursday, October 24th. They set a “buy” rating and a $27.00 price target for the company. Wedbush restated an “outperform” rating and set a $37.00 price objective on shares of Kura Oncology in a research note on Monday, November 4th. StockNews.com cut shares of Kura Oncology from a “hold” rating to a “sell” rating in a report on Wednesday. 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price objective on shares of Kura Oncology in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kura Oncology has an average rating of “Moderate Buy” and an average price target of $29.38.

Kura Oncology Stock Performance

Kura Oncology stock opened at $10.00 on Friday. The stock’s 50 day moving average is $18.28 and its 200 day moving average is $19.82. The company has a market capitalization of $777.72 million, a P/E ratio of -4.24 and a beta of 0.86. Kura Oncology has a twelve month low of $9.06 and a twelve month high of $24.17. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC increased its position in shares of Kura Oncology by 8.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 7,652,782 shares of the company’s stock valued at $149,535,000 after purchasing an additional 583,155 shares during the last quarter. Vanguard Group Inc. raised its position in Kura Oncology by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,065,903 shares of the company’s stock worth $86,726,000 after acquiring an additional 28,212 shares during the period. Armistice Capital LLC boosted its stake in shares of Kura Oncology by 14.7% during the 2nd quarter. Armistice Capital LLC now owns 2,350,000 shares of the company’s stock worth $48,386,000 after acquiring an additional 302,000 shares during the last quarter. Artal Group S.A. grew its position in shares of Kura Oncology by 8.6% during the 1st quarter. Artal Group S.A. now owns 1,919,884 shares of the company’s stock valued at $40,951,000 after acquiring an additional 151,828 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Kura Oncology by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company’s stock valued at $34,798,000 after acquiring an additional 41,535 shares during the period.

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.