Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $49.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price increased by Morgan Stanley from $45.00 to $49.00 in a report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

KYMR has been the subject of a number of other research reports. B. Riley lifted their price objective on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Wells Fargo & Company increased their price target on Kymera Therapeutics from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners reaffirmed an “outperform” rating and set a $60.00 target price on shares of Kymera Therapeutics in a research note on Monday, September 9th. Finally, Oppenheimer boosted their price target on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.21.

Kymera Therapeutics Stock Up 2.2 %

Shares of NASDAQ:KYMR traded up $1.09 during midday trading on Wednesday, reaching $50.95. The company’s stock had a trading volume of 300,187 shares, compared to its average volume of 368,128. The stock has a fifty day moving average of $47.06 and a 200 day moving average of $41.16. The firm has a market capitalization of $3.30 billion, a PE ratio of -21.77 and a beta of 2.21. Kymera Therapeutics has a twelve month low of $13.85 and a twelve month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.01. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same period last year, the company earned ($0.90) earnings per share. Kymera Therapeutics’s revenue for the quarter was down 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Pamela Esposito sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.10, for a total transaction of $245,500.00. The disclosure for this sale can be found here. 15.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several large investors have recently bought and sold shares of KYMR. Bayesian Capital Management LP acquired a new position in shares of Kymera Therapeutics during the first quarter worth about $569,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Kymera Therapeutics by 18.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock valued at $254,548,000 after buying an additional 996,300 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kymera Therapeutics by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,211 shares of the company’s stock valued at $4,663,000 after buying an additional 25,317 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Kymera Therapeutics in the 2nd quarter valued at $4,271,000. Finally, E Fund Management Co. Ltd. raised its stake in Kymera Therapeutics by 391.2% during the 2nd quarter. E Fund Management Co. Ltd. now owns 48,946 shares of the company’s stock worth $1,461,000 after acquiring an additional 38,981 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 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.