Kymera Therapeutics’ (KYMR) “Outperform” Rating Reiterated at Leerink Partners

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “outperform” rating restated by investment analysts at Leerink Partners in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $60.00 target price on the stock. Leerink Partners’ target price points to a potential upside of 42.79% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Guggenheim lifted their price objective on Kymera Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 report on Wednesday, November 6th. BTIG Research initiated coverage on Kymera Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $60.00 price objective on the stock. Oppenheimer lifted their price objective on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company upgraded shares of Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $57.00 in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock opened at $42.02 on Friday. Kymera Therapeutics has a fifty-two week low of $22.35 and a fifty-two week high of $53.27. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -17.96 and a beta of 2.16. The stock’s fifty day moving average is $45.56 and its two-hundred day moving average is $43.37.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, beating 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%. The firm’s revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.90) EPS. As a group, sell-side analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Kymera Therapeutics

A number of large investors have recently modified their holdings of KYMR. JPMorgan Chase & Co. grew its holdings 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 worth $6,649,000 after purchasing an additional 95,547 shares during the period. Franklin Resources Inc. grew its stake in Kymera Therapeutics by 35.1% during the third quarter. Franklin Resources Inc. now owns 29,440 shares of the company’s stock worth $1,356,000 after buying an additional 7,647 shares during the period. Wellington Management Group LLP increased its position in shares of Kymera Therapeutics by 7.2% in the third 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 position in shares of Kymera Therapeutics in the 3rd quarter valued at $95,000. Finally, HighTower Advisors LLC purchased a new position in shares of Kymera Therapeutics in the 3rd quarter valued at $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.