Kymera Therapeutics (NASDAQ:KYMR) Earns “Outperform” Rating from Leerink Partners

Leerink Partners reaffirmed their outperform rating on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research note released on Monday morning, MarketBeat Ratings reports. The firm currently has a $60.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company upped their target price on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. Oppenheimer restated an outperform rating and set a $52.00 target price on shares of Kymera Therapeutics in a research note on Wednesday, July 10th. Morgan Stanley upped their target price on shares of Kymera Therapeutics from $34.00 to $45.00 and gave the stock an equal weight rating in a research note on Wednesday, August 14th. B. Riley upped their target price on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Finally, Wolfe Research upgraded shares of Kymera Therapeutics from a peer perform rating to an outperform rating and set a $65.00 target price on the stock in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $48.67.

Kymera Therapeutics Price Performance

Shares of NASDAQ:KYMR opened at $44.77 on Monday. The firm has a market capitalization of $2.75 billion, a PE ratio of -17.84 and a beta of 2.22. The firm’s 50-day moving average is $43.64 and its two-hundred day moving average is $38.85. Kymera Therapeutics has a 1 year low of $9.60 and a 1 year high of $50.19.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.10. Kymera Therapeutics had a negative net margin of 178.27% and a negative return on equity of 28.88%. The company had revenue of $25.60 million for the quarter, compared to analyst estimates of $12.55 million. During the same period in the prior year, the firm earned ($0.67) earnings per share. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. Analysts expect that Kymera Therapeutics will post -2.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Bruce Booth sold 453,960 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total value of $17,345,811.60. Following the completion of the sale, the director now directly owns 723,246 shares of the company’s stock, valued at $27,635,229.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce Booth sold 453,960 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total value of $17,345,811.60. Following the sale, the director now directly owns 723,246 shares of the company’s stock, valued at $27,635,229.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 482,105 shares of company stock valued at $18,651,584. 15.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds have recently modified their holdings of KYMR. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kymera Therapeutics by 18.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock worth $254,548,000 after purchasing an additional 996,300 shares during the period. Vanguard Group Inc. lifted its holdings in Kymera Therapeutics by 19.2% in the first quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock valued at $191,635,000 after acquiring an additional 769,486 shares during the period. Norges Bank acquired a new stake in Kymera Therapeutics in the fourth quarter valued at $12,834,000. Artal Group S.A. lifted its holdings in Kymera Therapeutics by 19.6% in the first quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock valued at $121,691,000 after acquiring an additional 496,400 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Kymera Therapeutics by 229.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 674,655 shares of the company’s stock valued at $17,177,000 after acquiring an additional 469,947 shares during the period.

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.