Kura Oncology (NASDAQ:KURA) Shares Gap Down After Earnings Miss

Kura Oncology, Inc. (NASDAQ:KURA) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. 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 trading hands.

The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.15). The business had revenue of $14.11 million for the quarter, compared to the consensus estimate of $39.08 million.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price target on shares of Kura Oncology in a research report on Tuesday, April 29th. Scotiabank reduced their price target on shares of Kura Oncology from $18.00 to $10.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Kura Oncology in a research note on Tuesday, April 8th. UBS Group dropped their price objective on shares of Kura Oncology from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, StockNews.com downgraded shares of Kura Oncology from a “buy” rating to a “hold” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.89.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Kura Oncology by 11.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,489 shares of the company’s stock worth $144,000 after purchasing an additional 1,750 shares during the period. Rhumbline Advisers boosted its stake in shares of Kura Oncology by 2.0% in the fourth quarter. Rhumbline Advisers now owns 99,991 shares of the company’s stock valued at $871,000 after buying an additional 1,923 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Kura Oncology by 4.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,371 shares of the company’s stock worth $430,000 after acquiring an additional 2,076 shares during the period. Teacher Retirement System of Texas raised its position in Kura Oncology by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 13,749 shares of the company’s stock worth $120,000 after acquiring an additional 2,285 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Kura Oncology by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 44,828 shares of the company’s stock valued at $390,000 after acquiring an additional 2,776 shares during the period.

Kura Oncology Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.47 and a current ratio of 11.47. The company has a market capitalization of $522.63 million, a PE ratio of -2.74 and a beta of 0.50. The firm’s 50-day simple moving average is $6.73 and its 200 day simple moving average is $9.58.

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.