Kymera Therapeutics (NASDAQ:KYMR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Kymera Therapeutics (NASDAQ:KYMR) had its price target upped by Stifel Nicolaus from $132.00 to $152.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 31.64% from the stock’s current price.

Several other brokerages have also commented on KYMR. Guggenheim lifted their price objective on Kymera Therapeutics from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Mizuho raised their target price on Kymera Therapeutics from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Citigroup restated a “buy” rating on shares of Kymera Therapeutics in a research note on Thursday, August 6th. Wells Fargo & Company upped their price target on shares of Kymera Therapeutics from $116.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Finally, Wolfe Research raised shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.21.

Kymera Therapeutics Stock Down 5.4%

Shares of Kymera Therapeutics stock opened at $115.47 on Tuesday. The company has a market cap of $9.60 billion, a price-to-earnings ratio of -35.64 and a beta of 1.96. The company’s 50 day moving average is $114.73 and its 200 day moving average is $97.59. Kymera Therapeutics has a twelve month low of $51.11 and a twelve month high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $32.78 million. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm’s revenue was up 465.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.95) EPS. Sell-side analysts expect that Kymera Therapeutics will post -3.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $106.50, for a total transaction of $168,142,200.00. Following the completion of the sale, the director owned 240,123 shares of the company’s stock, valued at approximately $25,573,099.50. The trade was a 86.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Bruce N. Jacobs sold 77,109 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $114.96, for a total value of $8,864,450.64. Following the completion of the sale, the chief financial officer owned 244,883 shares of the company’s stock, valued at approximately $28,151,749.68. The trade was a 23.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,392,055 shares of company stock worth $258,718,499 in the last quarter. Company insiders own 15.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP increased its holdings in Kymera Therapeutics by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company’s stock worth $673,620,000 after acquiring an additional 2,005,813 shares in the last quarter. BlackRock Inc. purchased a new position in Kymera Therapeutics during the second quarter valued at approximately $635,067,000. Avoro Capital Advisors LLC boosted its position in shares of Kymera Therapeutics by 17.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company’s stock worth $581,610,000 after purchasing an additional 1,124,747 shares during the period. Capital Research Global Investors boosted its position in shares of Kymera Therapeutics by 23.7% in the fourth quarter. Capital Research Global Investors now owns 1,560,791 shares of the company’s stock worth $121,445,000 after purchasing an additional 298,609 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Kymera Therapeutics by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 1,417,389 shares of the company’s stock worth $110,307,000 after purchasing an additional 140,623 shares in the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company’s approach is based on targeted protein degradation, which uses small-molecule degraders to direct unwanted proteins to the cell’s natural disposal system rather than simply blocking their activity.

Kymera’s research and development activities are supported by its proprietary Pegasus platform, which is designed to identify degradable proteins and create drug candidates against them.