Analysts Set Kymera Therapeutics, Inc. (NASDAQ:KYMR) Price Target at $59.11

Kymera Therapeutics, Inc. (NASDAQ:KYMR) has earned an average rating of “Buy” from the twenty analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $59.11.

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Kymera Therapeutics from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Wells Fargo & Company reduced their target price on Kymera Therapeutics from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, June 26th. Bank of America upgraded Kymera Therapeutics from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, June 2nd. Morgan Stanley started coverage on shares of Kymera Therapeutics in a research report on Thursday, July 3rd. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Kymera Therapeutics in a research note on Tuesday, June 3rd.

Insider Buying and Selling at Kymera Therapeutics

In related news, Director Jeffrey W. Albers sold 6,349 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total transaction of $311,101.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bvf Partners L. P/Il bought 317,167 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the purchase, the director directly owned 2,798,795 shares in the company, valued at approximately $123,146,980. The trade was a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 48,349 shares of company stock valued at $2,334,301 in the last three months. Insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in KYMR. Farther Finance Advisors LLC raised its stake in shares of Kymera Therapeutics by 642.9% in the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock valued at $27,000 after buying an additional 540 shares during the period. State of Wyoming purchased a new stake in Kymera Therapeutics during the fourth quarter valued at about $45,000. GF Fund Management CO. LTD. bought a new position in Kymera Therapeutics in the 4th quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Kymera Therapeutics during the first quarter worth $68,000. Finally, KBC Group NV boosted its holdings in shares of Kymera Therapeutics by 15.2% in the first quarter. KBC Group NV now owns 2,479 shares of the company’s stock worth $68,000 after acquiring an additional 328 shares during the period.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $46.18 on Thursday. The business’s fifty day moving average is $40.99 and its two-hundred day moving average is $36.22. The stock has a market capitalization of $3.01 billion, a P/E ratio of -14.90 and a beta of 2.18. Kymera Therapeutics has a 1 year low of $19.45 and a 1 year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.10. The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $11.38 million. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. Kymera Therapeutics’s revenue for the quarter was up 114.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.69) EPS. On average, research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current year.

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.