Kymera Therapeutics (NASDAQ:KYMR) Stock Rating Upgraded by Zacks Investment Research

Kymera Therapeutics (NASDAQ:KYMRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $35.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 6.94% from the stock’s current price.

According to Zacks, “Kymera Therapeutics Inc. is a biopharmaceutical company. It is focused on discovering and developing small molecule therapeutics for degrade dysregulated, disease-causing proteins to address previously intractable disease targets. Kymera Therapeutics Inc. is based in Watertown, United States. “

A number of other analysts have also recently commented on KYMR. Morgan Stanley cut their price target on shares of Kymera Therapeutics from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 2nd. Wells Fargo & Company initiated coverage on shares of Kymera Therapeutics in a research note on Thursday, February 10th. They issued an “overweight” rating and a $62.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, March 10th. They issued a “neutral” rating and a $44.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on shares of Kymera Therapeutics in a research report on Thursday, April 28th. They issued an “outperform” rating and a $63.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $68.50.

Shares of KYMR stock opened at $32.73 on Tuesday. The stock has a market cap of $1.69 billion, a P/E ratio of -15.89 and a beta of 2.01. The company has a fifty day moving average price of $38.08 and a two-hundred day moving average price of $47.55. Kymera Therapeutics has a one year low of $29.81 and a one year high of $69.12.

Kymera Therapeutics (NASDAQ:KYMRGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.30). The firm had revenue of $15.30 million during the quarter, compared to analyst estimates of $21.31 million. Kymera Therapeutics had a negative net margin of 137.60% and a negative return on equity of 27.16%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS. On average, research analysts expect that Kymera Therapeutics will post -2.32 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Kymera Therapeutics by 24.2% during the third quarter. BlackRock Inc. now owns 3,040,431 shares of the company’s stock worth $178,595,000 after acquiring an additional 591,914 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Kymera Therapeutics during the third quarter worth about $3,206,000. Artal Group S.A. increased its position in Kymera Therapeutics by 60.0% during the third quarter. Artal Group S.A. now owns 400,000 shares of the company’s stock worth $23,496,000 after acquiring an additional 150,000 shares during the period. Cubist Systematic Strategies LLC increased its position in Kymera Therapeutics by 77.3% during the third quarter. Cubist Systematic Strategies LLC now owns 24,962 shares of the company’s stock worth $1,466,000 after acquiring an additional 10,883 shares during the period. Finally, TD Asset Management Inc. increased its position in Kymera Therapeutics by 5.1% during the third quarter. TD Asset Management Inc. now owns 67,965 shares of the company’s stock worth $3,992,000 after acquiring an additional 3,300 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

About Kymera Therapeutics (Get Rating)

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 I clinical trial for the treatment of immunology-inflammation diseases, including hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, general pustular psoriasis, and rheumatoid arthritis; IRAKIMiD program to treat MYD88-mutated diffuse large B cell lymphoma; 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.

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