Truist Financial Reaffirms Buy Rating for Kymera Therapeutics (NASDAQ:KYMR)

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a research report issued on Friday, Benzinga reports. They presently have a $53.00 price objective on the stock, down from their prior price objective of $54.00. Truist Financial’s price objective indicates a potential upside of 14.05% from the stock’s current price.

A number of other research firms also recently issued reports on KYMR. Wolfe Research upgraded shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, August 26th. Morgan Stanley upped their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Wells Fargo & Company upped their price objective on Kymera Therapeutics from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, B. Riley lifted their target price on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.15.

Kymera Therapeutics Stock Performance

Shares of NASDAQ:KYMR opened at $46.47 on Friday. Kymera Therapeutics has a 52-week low of $9.60 and a 52-week high of $53.27. The business has a 50-day moving average price of $47.04 and a 200-day moving average price of $40.70.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.01. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 28.05%. Kymera Therapeutics’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.90) EPS. Analysts forecast that Kymera Therapeutics will post -2.85 EPS for the current year.

Insider Activity

In related news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The disclosure for this sale can be found here. Company insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KYMR. Ameritas Investment Partners Inc. increased its holdings in shares of Kymera Therapeutics by 7.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock valued at $164,000 after purchasing an additional 295 shares during the last quarter. Comerica Bank increased its stake in shares of Kymera Therapeutics by 13.7% in the 1st quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Keudell Morrison Wealth Management raised its holdings in shares of Kymera Therapeutics by 7.2% during the 2nd quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company’s stock worth $212,000 after acquiring an additional 480 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kymera Therapeutics by 27.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock valued at $114,000 after acquiring an additional 504 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Kymera Therapeutics by 4.7% in the first quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock valued at $486,000 after purchasing an additional 547 shares during the period.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc, a biopharmaceutical company, focuses on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body's own natural protein degradation system. It engages in developing IRAK4 program, which is in Phase II clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis; STAT3 program for the treatment of hematologic malignancies and solid tumors, as well as autoimmune diseases and fibrosis; and MDM2 program to treat hematological malignancies and solid tumors.