Kymera Therapeutics (NASDAQ:KYMR) Now Covered by BTIG Research

Equities research analysts at BTIG Research began coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $60.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 37.46% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Oppenheimer upped their price target on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. 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 note on Monday, December 2nd. Guggenheim boosted their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Leerink Partners reissued an “outperform” rating and issued a $60.00 target price on shares of Kymera Therapeutics in a research report on Monday, September 9th. Finally, Morgan Stanley boosted their target price 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 investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.88.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $43.65 on Tuesday. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -18.65 and a beta of 2.16. The firm’s 50-day moving average is $46.40 and its 200 day moving average is $42.64. Kymera Therapeutics has a 1 year low of $21.20 and a 1 year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly 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 company 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.90) EPS. On average, equities analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity

In related news, Director Pamela Esposito sold 13,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings 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 acquiring an additional 7,647 shares in the last quarter. Wellington Management Group LLP increased its holdings in Kymera Therapeutics by 7.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock worth $218,587,000 after acquiring an additional 308,954 shares in the last quarter. Quarry LP purchased a new stake in Kymera Therapeutics in the 3rd quarter worth approximately $95,000. HighTower Advisors LLC purchased a new stake in Kymera Therapeutics in the 3rd quarter worth approximately $494,000. Finally, HighVista Strategies LLC bought a new position in Kymera Therapeutics in the 3rd quarter worth approximately $603,000.

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.