Kura Oncology (NASDAQ:KURA) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Kura Oncology (NASDAQ:KURA – Get Rating) announced its earnings results on Wednesday. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.03, MarketWatch Earnings reports. During the same quarter last year, the company posted ($0.46) EPS.

Shares of KURA opened at $13.10 on Friday. The firm has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $15.08. Kura Oncology has a 1-year low of $11.49 and a 1-year high of $26.41. The stock has a market cap of $872.98 million, a price-to-earnings ratio of -6.58 and a beta of 1.39.

Several brokerages have recently weighed in on KURA. Zacks Investment Research downgraded shares of Kura Oncology from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group began coverage on shares of Kura Oncology in a research note on Tuesday, February 15th. They set a “buy” rating and a $35.00 target price for the company. StockNews.com began coverage on shares of Kura Oncology in a research note on Thursday, March 31st. They set a “sell” rating for the company. Credit Suisse Group increased their target price on shares of Kura Oncology from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 25th. Finally, SVB Leerink cut their price target on shares of Kura Oncology from $41.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $38.00.

A number of hedge funds have recently added to or reduced their stakes in KURA. Royal Bank of Canada boosted its holdings in shares of Kura Oncology by 56.4% during the third quarter. Royal Bank of Canada now owns 6,894 shares of the company’s stock worth $129,000 after purchasing an additional 2,487 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Kura Oncology during the fourth quarter worth about $562,000. Wells Fargo & Company MN lifted its stake in shares of Kura Oncology by 23.4% during the fourth quarter. Wells Fargo & Company MN now owns 47,603 shares of the company’s stock worth $667,000 after purchasing an additional 9,030 shares in the last quarter. Credit Suisse AG lifted its stake in shares of Kura Oncology by 13.7% during the fourth quarter. Credit Suisse AG now owns 49,383 shares of the company’s stock worth $692,000 after purchasing an additional 5,938 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Kura Oncology by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 82,147 shares of the company’s stock worth $1,150,000 after purchasing an additional 1,581 shares in the last quarter. 94.65% of the stock is owned by hedge funds and other institutional investors.

Kura Oncology Company Profile (Get Rating)

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer in the United States. The company's pipeline consists of small molecule product candidates that target cancer. Its lead product candidates are ziftomenib, a small molecule inhibitor of the menin-Lysine K-specific Methyltransferase 2A protein-protein interaction for the treatment of genetically defined subsets of acute leukemias, including acute myeloid leukemia and acute lymphoblastic leukemia; and tipifarnib, an orally bioavailable inhibitor of farnesyl transferase that is in Phase II clinical trials for the treatment of solid tumors and hematologic indications.

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