Kymera Therapeutics (NASDAQ:KYMR) PT Raised to $56.00 at Oppenheimer

Kymera Therapeutics (NASDAQ:KYMR) had its target price raised by Oppenheimer from $52.00 to $56.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 15.01% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Leerink Partners restated an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research report on Monday, September 9th. Wolfe Research upgraded shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Monday, August 26th. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Morgan Stanley boosted their price target on shares of Kymera Therapeutics from $34.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $46.00 target price on shares of Kymera Therapeutics in a research report on Monday, June 17th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Kymera Therapeutics has an average rating of “Moderate Buy” and an average price target of $49.00.

Kymera Therapeutics Stock Down 1.6 %

NASDAQ KYMR opened at $48.69 on Friday. The stock has a market cap of $2.99 billion, a P/E ratio of -19.40 and a beta of 2.22. The company’s 50-day simple moving average is $45.79 and its 200 day simple moving average is $39.35. Kymera Therapeutics has a twelve month low of $9.60 and a twelve month high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.10. The firm had revenue of $25.60 million for the quarter, compared to analyst estimates of $12.55 million. Kymera Therapeutics had a negative net margin of 178.27% and a negative return on equity of 28.88%. The company’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.67) earnings per share. Research analysts anticipate that Kymera Therapeutics will post -2.87 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Pamela Esposito sold 13,500 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pamela Esposito sold 13,500 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce Booth sold 453,960 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $38.21, for a total transaction of $17,345,811.60. Following the sale, the director now directly owns 723,246 shares of the company’s stock, valued at $27,635,229.66. The disclosure for this sale can be found here. Insiders sold a total of 495,605 shares of company stock valued at $19,303,364 over the last ninety days. Insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Kymera Therapeutics by 18.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock valued at $254,548,000 after purchasing an additional 996,300 shares in the last quarter. BVF Inc. IL increased its holdings in shares of Kymera Therapeutics by 8.9% in the fourth quarter. BVF Inc. IL now owns 5,161,801 shares of the company’s stock worth $131,419,000 after acquiring an additional 422,797 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Kymera Therapeutics by 19.2% in the first quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock worth $191,635,000 after acquiring an additional 769,486 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Kymera Therapeutics by 3.0% during the first quarter. Avoro Capital Advisors LLC now owns 3,888,888 shares of the company’s stock worth $156,333,000 after purchasing an additional 113,888 shares during the period. Finally, Artal Group S.A. lifted its holdings in shares of Kymera Therapeutics by 19.6% during the 1st quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock valued at $121,691,000 after purchasing an additional 496,400 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.