Mizuho Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its target price raised by equities research analysts at Mizuho from $120.00 to $140.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 20.93% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Brookline Capital Markets reissued a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Truist Financial raised their price target on shares of Kymera Therapeutics from $116.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, June 29th. B. Riley Financial lifted their price target on Kymera Therapeutics from $117.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 29th. Loop Capital set a $97.00 price objective on Kymera Therapeutics in a research report on Monday, June 8th. Finally, Royal Bank Of Canada lowered Kymera Therapeutics from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $106.00 to $115.00 in a report on Monday. Twenty analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.64.

Kymera Therapeutics Stock Performance

KYMR stock opened at $115.77 on Thursday. Kymera Therapeutics has a 1 year low of $36.65 and a 1 year high of $130.05. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of -32.43 and a beta of 1.95. The stock’s fifty day moving average is $93.52 and its two-hundred day moving average is $85.37.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.18. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The business had revenue of $34.37 million during the quarter, compared to analyst estimates of $8.27 million. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, analysts predict that Kymera Therapeutics will post -3.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Noah Goodman sold 3,389 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $114.29, for a total transaction of $387,328.81. Following the completion of the transaction, the insider owned 47,179 shares of the company’s stock, valued at $5,392,087.91. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of Kymera Therapeutics stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $106.50, for a total value of $168,142,200.00. Following the transaction, the director directly owned 240,123 shares in the company, valued at approximately $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,644,113 shares of company stock valued at $390,820,176. 15.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Several hedge funds have recently made changes to their positions in KYMR. Handelsbanken Fonder AB raised its holdings in shares of Kymera Therapeutics by 15.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company’s stock worth $2,374,000 after purchasing an additional 2,700 shares in the last quarter. GAMMA Investing LLC grew its position in Kymera Therapeutics by 27.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $52,000 after buying an additional 98 shares during the last quarter. Empowered Funds LLC acquired a new position in Kymera Therapeutics in the first quarter worth approximately $203,000. Glenmede Trust Co. NA grew its position in Kymera Therapeutics by 3.6% in the first quarter. Glenmede Trust Co. NA now owns 6,779 shares of the company’s stock worth $565,000 after buying an additional 235 shares during the last quarter. Finally, Amundi bought a new position in shares of Kymera Therapeutics in the first quarter valued at $249,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.