Kura Oncology (KURA) saw its stock price plummet 5.70% in pre-market trading on Friday, following the release of its second-quarter earnings report that fell short of analyst expectations.
The clinical-stage biopharmaceutical company reported a quarterly adjusted loss of 75 cents per share for the quarter ended June 30, significantly wider than the 46 cents loss per share analysts had predicted. This also represents a deterioration from the 59 cents loss per share reported in the same quarter last year. Revenue for the quarter came in at $15.29 million, far below the $36.66 million that Wall Street had anticipated.
Despite the disappointing results, the average analyst recommendation for Kura Oncology remains "buy", with 13 analysts rating it as "strong buy" or "buy", and 2 maintaining a "hold" position. The median 12-month price target stands at $28.00, representing a potential upside of about 78.7% from its last closing price of $5.96. However, investors should note that the company's shares have already lost 30.8% year-to-date, and this earnings miss could put further pressure on the stock in the near term.
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