Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $60.00 at HC Wainwright

Kymera Therapeutics (NASDAQ:KYMR) had its price target boosted by HC Wainwright from $54.00 to $60.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on KYMR. Leerink Partners reiterated an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a report on Friday, December 27th. Morgan Stanley upped their price objective on Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of Kymera Therapeutics in a research note on Tuesday, January 21st. BMO Capital Markets began coverage on Kymera Therapeutics in a research note on Friday, December 6th. They issued a “market perform” rating and a $55.00 price objective on the stock. Finally, Truist Financial restated a “buy” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kymera Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $56.69.

Kymera Therapeutics Stock Performance

KYMR opened at $31.35 on Friday. Kymera Therapeutics has a 52-week low of $29.16 and a 52-week high of $53.27. The firm has a market capitalization of $2.03 billion, a PE ratio of -13.40 and a beta of 2.18. The business’s 50-day simple moving average is $39.02 and its 200 day simple moving average is $43.74.

Kymera Therapeutics (NASDAQ:KYMR) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.12). Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $7.39 million for the quarter, compared to the consensus estimate of $14.81 million. On average, research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In related news, insider Ellen Chiniara sold 3,129 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $41.75, for a total transaction of $130,635.75. Following the sale, the insider now owns 54,826 shares of the company’s stock, valued at $2,288,985.50. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of large investors have recently added to or reduced their stakes in KYMR. Wellington Management Group LLP grew its position in Kymera Therapeutics by 14.9% during the fourth quarter. Wellington Management Group LLP now owns 5,307,326 shares of the company’s stock worth $213,514,000 after buying an additional 688,967 shares in the last quarter. Avoro Capital Advisors LLC grew its position in Kymera Therapeutics by 14.4% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company’s stock worth $207,184,000 after buying an additional 650,000 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Kymera Therapeutics during the fourth quarter worth approximately $23,856,000. Boxer Capital Management LLC acquired a new stake in Kymera Therapeutics during the fourth quarter worth approximately $17,098,000. Finally, Jennison Associates LLC grew its position in Kymera Therapeutics by 85.8% during the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after buying an additional 368,394 shares in the last quarter.

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.