LifeSci Capital analyst Sam Slutsky maintained a Buy rating on OnKure Therapeutics (OKUR – Research Report) yesterday and set a price target of $31.00.
Sam Slutsky’s rating is based on OnKure Therapeutics’ promising development of their allosteric, mutant-selective PI3Kα inhibitor, OKI-219. The drug is designed to target the H1047R mutation within the kinase domain, and early data from the Phase 1 PIKture-01 trial indicates best-in-class tolerability with only Grade 1 treatment-emergent adverse events observed, even at the highest doses. Additionally, some patients have shown stable disease, suggesting potential efficacy.
Looking forward, 2025 is expected to be a pivotal year for OKI-219, with more mature single-agent data and initial combination data with fulvestrant anticipated. The excitement around the mutant-selective PI3Kα inhibitor class is fueled by the potential to limit severe toxicities while achieving meaningful clinical efficacy. Furthermore, OnKure’s plans to nominate a pan-mutant selective PI3Kα inhibitor in 2025 could provide additional opportunities in the field, especially given the challenges faced by competitors. These factors contribute to the optimistic outlook and the Buy rating for OnKure’s stock.
According to TipRanks, Slutsky is an analyst with an average return of -6.8% and a 31.23% success rate. Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Astria Therapeutics, and Spyre Therapeutics.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $30.00 price target.
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