Kura Oncology remains ‘favorite smallcap oncology name’: Piper Jaffray

Piper Jaffray analyst Tyler Van Buren kept his Overweight rating and $25 price target on Kura Oncology following the company’s update on the development of tipifarnib in highly refractory PTCL patients where a significant association between CXCL12 expression and clinical benefit was observed. The analyst notes that the data were “particularly impressive given the patients’ refractory states and importantly, one patient was even able to receive a potentially curative transplant”. Van Buren further contends that Kura Oncology is positioned for $500M or more in long-term sales for tipifarnib in HRAS-driven cancers, adding that its “shares are significantly undervalued based on that opportunity alone”.
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