Kymera Therapeutics (NASDAQ:KYMR) Earns Buy Rating from Analysts at BTIG Research

Analysts at BTIG Research assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $60.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 37.46% from the company’s previous close.

A number of other research firms also recently commented on KYMR. Stephens assumed coverage on Kymera Therapeutics in a research report on Monday, November 18th. They set an “overweight” rating and a $65.00 target price for the company. Leerink Partners reiterated an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a research report on Monday, September 9th. Morgan Stanley increased their target price on Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Wolfe Research upgraded Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Monday, August 26th. Finally, Guggenheim increased their price target on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Kymera Therapeutics Price Performance

KYMR stock opened at $43.65 on Tuesday. Kymera Therapeutics has a 1-year low of $21.20 and a 1-year high of $53.27. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -18.65 and a beta of 2.16. The business has a 50 day simple moving average of $46.40 and a two-hundred day simple moving average of $42.64.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. The firm had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.90) EPS. Sell-side analysts anticipate that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in shares of Kymera Therapeutics by 35.1% during the third quarter. Franklin Resources Inc. now owns 29,440 shares of the company’s stock valued at $1,356,000 after buying an additional 7,647 shares during the period. Wellington Management Group LLP increased its stake in shares of Kymera Therapeutics by 7.2% during the third quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock valued at $218,587,000 after buying an additional 308,954 shares during the period. Quarry LP purchased a new position in shares of Kymera Therapeutics during the third quarter valued at $95,000. HighTower Advisors LLC purchased a new position in shares of Kymera Therapeutics during the third quarter valued at $494,000. Finally, HighVista Strategies LLC purchased a new position in shares of Kymera Therapeutics during the third quarter valued at $603,000.

About Kymera Therapeutics

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.