Bank of America thinks Kura Oncology could be a winner in blood cancer treatment, believing the stock could nearly triple in value.
The bank initiated research coverage of the clinical-stage biotech company with a buy rating and $31 per share price target.
"Early clinical data has been favorable, where treatment with ziftomenib monotherapy produced robust responses in a heavily pretreated patient population where outcomes are often poor."
Kura Oncology's stock price briefly rose as much as 6.5% in early Friday trading.
KURA 1Y mountain Kura Oncology stock.
Persons:
Jason Zemansky, ziftomenib monotherapy, Zemansky, Cash, BofA, — CNBC's Michael Bloom
Organizations:
of America, Bank of America's, Syndax Pharma, FactSet
Locations:
Kura