Kura Oncology initiated with an Overweight at Piper Jaffray. Piper Jaffray analyst Tyler Van Buren started Kura Oncology with an Overweight rating and $25 price target. While the shares have pulled back after the response rate in the Phase II trial of tipifarnib experienced a moderate decline, the drug still demonstrated a 50% response rate in head and neck squamous cell carcinoma patients with HRAS mutations, Van Buren tells investors in a research note. He believes these results are clinically meaningful and that tipifarnib “appears to be a promising treatment option for these patients.” Kura’s current valuation is “very reasonable” for a de-risked potential $500M-plus cancer drug, says the analyst.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.