TD Cowen keeps a Buy rating on Kura Oncology (KURA) without a price target following the company’s collaboration with Kyowa Kirin on its lead asset ziftomenib. Kura shares are trading lower on the loss of an acquisition premium as investors conclude a sale of Kura to a strategic acquirer who is not Kyowa is now less likely given Kyowa’s ownership of 50% of the asset in the U.S. and a majority outside the U.S., the analyst tells investors in a research note. In addition, TD had assumed Kura would develop and commercialize zifotmenib on its own in the U.S. until it was bought by a larger biopharma company. Shares of Kura are down 22% to $12.40 in premarket trading.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KURA:
- Kura deal with Kyowa detracts from takeout narrative, says Mizuho
- Kura Oncology price target lowered to $28 from $32 at Jefferies
- Kura Oncology price target raised to $37 from $32 at H.C. Wainwright
- Closing Bell Movers: Nvidia down slightly after Q3 results
- Kura Oncology, Kyowa Kirin to develop and commercialize ziftomenib in leukemias