Kymera Therapeutics (NASDAQ:KYMR) Price Target Increased to $56.00 by Analysts at Oppenheimer

Kymera Therapeutics (NASDAQ:KYMR) had its target price increased by Oppenheimer from $52.00 to $56.00 in a research note published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. HC Wainwright reiterated a buy rating and issued a $46.00 target price on shares of Kymera Therapeutics in a research note on Monday, June 17th. Morgan Stanley raised their target price on Kymera Therapeutics from $34.00 to $45.00 and gave the company an equal weight rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their target price on Kymera Therapeutics from $30.00 to $38.00 and gave the company an equal weight rating in a research note on Monday, August 12th. Leerink Partners reiterated an outperform rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research note on Monday, September 9th. Finally, Leerink Partnrs upgraded Kymera Therapeutics to a strong-buy rating in a research note on Monday, September 9th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $49.00.

Kymera Therapeutics Price Performance

Shares of KYMR opened at $48.69 on Friday. The business’s fifty day moving average price is $45.79 and its 200 day moving average price is $39.33. Kymera Therapeutics has a 12-month low of $9.60 and a 12-month high of $53.27. The stock has a market capitalization of $2.99 billion, a PE ratio of -19.40 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.10. Kymera Therapeutics had a negative return on equity of 28.88% and a negative net margin of 178.27%. The firm had revenue of $25.60 million for the quarter, compared to analysts’ expectations of $12.55 million. During the same period last year, the business posted ($0.67) earnings per share. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. As a group, research analysts anticipate that Kymera Therapeutics will post -2.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce Booth sold 453,960 shares of Kymera Therapeutics stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total transaction of $17,345,811.60. Following the transaction, 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 SEC, which is available through this hyperlink. In related news, Director Bruce Booth sold 453,960 shares of Kymera Therapeutics stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total transaction of $17,345,811.60. Following the transaction, 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 SEC, which is available through this hyperlink. Also, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,605 shares of company stock valued at $19,303,364. Company insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its stake in Kymera Therapeutics by 7.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock worth $164,000 after purchasing an additional 295 shares in the last quarter. Comerica Bank increased its stake in 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 purchasing an additional 400 shares in the last quarter. Keudell Morrison Wealth Management increased its stake in Kymera Therapeutics by 7.2% in the 2nd quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company’s stock worth $212,000 after purchasing an additional 480 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Kymera Therapeutics by 1.2% in the 1st quarter. Congress Asset Management Co. MA now owns 45,836 shares of the company’s stock worth $1,843,000 after purchasing an additional 533 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Kymera Therapeutics by 4.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock worth $486,000 after purchasing an additional 547 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.