Kymera Therapeutics (NASDAQ:KYMR) Given New $37.00 Price Target at Morgan Stanley

Kymera Therapeutics (NASDAQ:KYMR) had its price target trimmed by Morgan Stanley from $39.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on the company. Raymond James upgraded Kymera Therapeutics from a market perform rating to an outperform rating in a research note on Thursday, May 4th. Stifel Nicolaus increased their price target on Kymera Therapeutics from $48.00 to $52.00 and gave the stock a buy rating in a research note on Monday, August 7th. HC Wainwright reiterated a buy rating and set a $85.00 price target on shares of Kymera Therapeutics in a research note on Friday, August 4th. Credit Suisse Group increased their price target on Kymera Therapeutics from $36.00 to $37.00 and gave the stock a neutral rating in a research note on Friday, August 4th. Finally, Truist Financial initiated coverage on Kymera Therapeutics in a research note on Friday, June 30th. They set a buy rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Kymera Therapeutics currently has an average rating of Moderate Buy and an average price target of $48.10.

Kymera Therapeutics Stock Down 0.9 %

Shares of NASDAQ:KYMR opened at $19.49 on Tuesday. Kymera Therapeutics has a twelve month low of $18.53 and a twelve month high of $39.85. The stock’s 50 day moving average is $21.59 and its 200-day moving average is $27.13. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.06 and a beta of 1.48.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.03. The business had revenue of $16.51 million during the quarter, compared to the consensus estimate of $13.93 million. Kymera Therapeutics had a negative return on equity of 33.17% and a negative net margin of 305.01%. Kymera Therapeutics’s revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.78) earnings per share. Equities research analysts anticipate that Kymera Therapeutics will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Kymera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kymera Therapeutics by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,985 shares of the company’s stock valued at $124,000 after acquiring an additional 1,225 shares in the last quarter. Simplify Asset Management Inc. purchased a new stake in shares of Kymera Therapeutics in the 1st quarter valued at about $312,000. Swiss National Bank raised its holdings in shares of Kymera Therapeutics by 2.1% in the 4th quarter. Swiss National Bank now owns 81,400 shares of the company’s stock valued at $2,032,000 after acquiring an additional 1,700 shares in the last quarter. Artal Group S.A. raised its holdings in shares of Kymera Therapeutics by 33.3% in the 4th quarter. Artal Group S.A. now owns 2,000,000 shares of the company’s stock valued at $49,920,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Kymera Therapeutics by 9.8% in the 4th quarter. Principal Financial Group Inc. now owns 10,846 shares of the company’s stock valued at $271,000 after acquiring an additional 967 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 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.