Kymera Therapeutics (NASDAQ:KYMR) Given Outperform Rating at Leerink Partners

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “outperform” rating reiterated by equities researchers at Leerink Partners in a research report issued on Friday,Benzinga reports. They presently have a $60.00 price objective on the stock. Leerink Partners’ price target would suggest a potential upside of 42.79% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $38.00 to $57.00 in a research report on Monday, December 2nd. Guggenheim upped their target price on shares of Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group cut their price target on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Stephens initiated coverage on Kymera Therapeutics in a research note on Monday, November 18th. They set an “overweight” rating and a $65.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Kymera Therapeutics Stock Up 2.9 %

KYMR opened at $42.02 on Friday. The firm’s 50 day moving average is $45.56 and its 200-day moving average is $43.37. The firm has a market capitalization of $2.72 billion, a P/E ratio of -17.96 and a beta of 2.16. Kymera Therapeutics has a 52-week low of $22.35 and a 52-week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. Kymera Therapeutics’s revenue was down 20.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.90) earnings per share. Equities analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Kymera Therapeutics by 212.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 140,491 shares of the company’s stock valued at $6,649,000 after acquiring an additional 95,547 shares during the last quarter. Franklin Resources Inc. increased its stake in Kymera Therapeutics by 35.1% in the 3rd quarter. Franklin Resources Inc. now owns 29,440 shares of the company’s stock worth $1,356,000 after purchasing an additional 7,647 shares in the last quarter. Wellington Management Group LLP raised its holdings in Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after buying an additional 308,954 shares during the period. Quarry LP purchased a new stake in Kymera Therapeutics during the third quarter valued at about $95,000. Finally, HighTower Advisors LLC acquired a new position in shares of Kymera Therapeutics in the third quarter worth about $494,000.

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.