Kura Oncology downgraded to Hold from Buy at Stifel

Stifel downgraded Kura Oncology (KURA) to Hold from Buy with a price target of $19, down from $26. The stocks imply Kura’s ziftomenib is more valuable than and superior to Syndax’s (SNDX) revumenib, but Stifel’s base probability is for roughly equivalent successful NPM1m outcomes, the analyst tells investors in a research note. This situation should see value accumulate in favor of Syndax because revumenib has the critical commercial lead, contends Stifel. Therefore, the firm recommends Syndax and downgrades Kura Oncology.