Drug Data Drives Kura Oncology Inc (KURA) Sharply Higher

Kura Oncology Inc (KURA) is on track for its highest settlement since January

Aug 11, 2016 at 11:08 AM
facebook twitter linkedin


What a day it's been for Kura Oncology Inc (NASDAQ:KURA). Shares of the drugmaker have exploded to a nearly 32% lead at $5.75, on the back of a narrower-than-expected quarterly loss and upbeat drug data. Specifically, a mid-stage trial revealed KURA's cancer treatment tipifarnib produced "positive clinical activity, including objective responses."

Suffice it to say, a recent crop of bearish bettors may be left kicking rocks. Specifically, short interest nearly doubled during the most recent reporting period -- and is now docked at a record high. A capitulation among these skeptics could further fuel KURA's run higher.

Meanwhile, analyst optimism is being vindicated. Both of the brokerage firms tracking KURA rate it a "strong buy." Plus, the stock's consensus 12-month price target of $16.25 almost triples current levels, and sits in territory not charted since early November.

Despite being on pace for its highest daily finish since January, Kura Oncology Inc (NASDAQ:KURA) remains a long-term laggard. Since topping out at a record $25, the stock has lost more than three-quarters of its value.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical levels, and top economic stories straight to your inbox.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners