Stephens Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

Stephens initiated coverage on shares of Kymera Therapeutics (NASDAQ:KYMR) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $65.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 54.91% from the stock’s current price.

A number of other research analysts have also commented on the stock. Wolfe Research upgraded shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, August 26th. Wells Fargo & Company increased their price target on Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group dropped their price objective on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Truist Financial reaffirmed 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. Finally, Oppenheimer lifted their target price on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Kymera Therapeutics Price Performance

Shares of Kymera Therapeutics stock opened at $41.96 on Monday. Kymera Therapeutics has a 1-year low of $16.94 and a 1-year high of $53.27. The company has a market capitalization of $2.72 billion, a P/E ratio of -17.93 and a beta of 2.21. The business’s fifty day moving average price is $47.17 and its two-hundred day moving average price is $41.72.

Kymera Therapeutics (NASDAQ:KYMR) last posted 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 business had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.90) earnings per share. On average, research analysts expect that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pamela Esposito sold 13,500 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of Kymera Therapeutics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. Corporate insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Kymera Therapeutics by 18.7% during 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 during the period. Vanguard Group Inc. raised its holdings in shares of Kymera Therapeutics by 19.2% during 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. Artal Group S.A. boosted its position in Kymera Therapeutics by 19.6% during the first 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 during the last quarter. Jennison Associates LLC boosted its position in Kymera Therapeutics by 85.8% during the third quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock valued at $37,754,000 after purchasing an additional 368,394 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Kymera Therapeutics by 7.2% in the third 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 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.