Kymera Therapeutics (NASDAQ:KYMR) Earns Buy Rating from Analysts at BTIG Research

BTIG Research assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price objective on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Guggenheim lifted their price objective on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets assumed coverage on Kymera Therapeutics in a research note on Friday, December 6th. They set a “market perform” rating and a $55.00 price objective for the company. Finally, Truist Financial restated a “buy” rating and set a $53.00 target price (down previously from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Kymera Therapeutics Stock Performance

KYMR stock opened at $42.17 on Tuesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -18.02 and a beta of 2.16. The business’s 50-day moving average is $46.27 and its two-hundred day moving average is $42.79. Kymera Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.01. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The business’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.90) EPS. Equities analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Transactions at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total value of $651,780.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC grew its position in shares of Kymera Therapeutics by 85.8% during the 3rd quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock worth $37,754,000 after buying an additional 368,394 shares in the last quarter. Wellington Management Group LLP increased its position in Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company’s stock valued at $218,587,000 after purchasing an additional 308,954 shares during the period. FMR LLC raised its holdings in shares of Kymera Therapeutics by 5.8% in the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company’s stock valued at $241,816,000 after purchasing an additional 282,301 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Kymera Therapeutics in the 2nd quarter worth approximately $6,669,000. Finally, Renaissance Technologies LLC bought a new position in shares of Kymera Therapeutics during the second quarter valued at approximately $4,271,000.

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.