Kura Oncology (NASDAQ:KURA) Shares Gap Down Following Weak Earnings

Kura Oncology, Inc. (NASDAQ:KURA) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $6.49, but opened at $6.23. Kura Oncology shares last traded at $6.37, with a volume of 186,697 shares changing hands.

The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.15). The firm had revenue of $14.11 million during the quarter, compared to analyst estimates of $39.08 million.

Analyst Ratings Changes

KURA has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Kura Oncology in a report on Tuesday, April 8th. UBS Group decreased their target price on shares of Kura Oncology from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. BTIG Research downgraded shares of Kura Oncology from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. StockNews.com cut Kura Oncology from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Scotiabank lowered their target price on Kura Oncology from $18.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.89.

Hedge Funds Weigh In On Kura Oncology

Institutional investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC boosted its stake in shares of Kura Oncology by 71.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 7,336 shares of the company’s stock worth $64,000 after acquiring an additional 3,061 shares in the last quarter. Harbor Advisors LLC bought a new stake in Kura Oncology during the fourth quarter worth approximately $87,000. Pallas Capital Advisors LLC acquired a new position in Kura Oncology during the first quarter valued at approximately $66,000. E Fund Management Co. Ltd. acquired a new position in Kura Oncology during the fourth quarter valued at approximately $90,000. Finally, Corton Capital Inc. bought a new position in shares of Kura Oncology in the fourth quarter valued at approximately $99,000.

Kura Oncology Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 11.47 and a quick ratio of 11.47. The stock’s 50 day moving average price is $6.73 and its two-hundred day moving average price is $9.64. The firm has a market capitalization of $522.63 million, a price-to-earnings ratio of -2.74 and a beta of 0.83.

Kura Oncology Company Profile

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.