Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $170.00

Key Points

• Barclays raised Kymera Therapeutics’ price target to $170 from $139 and maintained an “overweight” rating, implying approximately 33% upside from the prior close.
• Analyst sentiment remains broadly positive: Kymera has a “Moderate Buy” consensus rating and an average price target of $139.16, despite one recent downgrade to “sell.”
• Kymera’s latest quarterly results fell short of expectations, with an adjusted loss of $1.32 per share versus the $1.26 consensus estimate and revenue of $1.35 million versus $3.28 million expected.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its target price boosted by investment analysts at Barclays from $139.00 to $170.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 33.32% from the stock's previous close.

A number of other equities analysts also recently commented on KYMR. Oppenheimer reissued an "outperform" rating and set a $140.00 price objective on shares of Kymera Therapeutics in a research report on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $140.00 price target on shares of Kymera Therapeutics in a research note on Wednesday, September 23rd. Wall Street Zen cut shares of Kymera Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Bank of America raised their price objective on shares of Kymera Therapeutics from $123.00 to $144.00 and gave the company a "buy" rating in a report on Monday, September 14th. Finally, Mizuho boosted their target price on shares of Kymera Therapeutics from $120.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Kymera Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $139.16.

Kymera Therapeutics Stock Performance

Kymera Therapeutics stock traded up $0.88 during trading on Monday, reaching $127.51. The company had a trading volume of 1,293,903 shares, compared to its average volume of 753,341. The firm has a market capitalization of $10.89 billion, a PE ratio of -35.22 and a beta of 2.03. The firm's 50-day simple moving average is $114.93 and its 200 day simple moving average is $96.35. Kymera Therapeutics has a 1-year low of $55.66 and a 1-year high of $130.05.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.06). Kymera Therapeutics had a negative return on equity of 22.39% and a negative net margin of 285.33%. The business had revenue of $1.35 million for the quarter, compared to analyst estimates of $3.28 million. During the same period last year, the firm earned ($0.94) EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. Analysts anticipate that Kymera Therapeutics will post -3.90 EPS for the current year.

Insider Activity

In other Kymera Therapeutics news, insider Brian Adams sold 6,371 shares of the company's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $116.83, for a total value of $744,323.93. Following the sale, the insider owned 50,254 shares of the company's stock, valued at $5,871,174.82. This represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nello Mainolfi sold 30,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $113.80, for a total value of $3,414,000.00. Following the sale, the chief executive officer owned 666,568 shares in the company, valued at approximately $75,855,438.40. This trade represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 15.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Kymera Therapeutics during the 2nd quarter worth $635,067,000. Merck & Co. Inc. acquired a new position in Kymera Therapeutics in the second quarter valued at $88,544,161. Bank of America Corp DE acquired a new position in Kymera Therapeutics during the second quarter valued at approximately $43,378,000. Braidwell LP increased its holdings in Kymera Therapeutics by 12.0% in the 2nd quarter. Braidwell LP now owns 378,163 shares of the company's stock valued at $43,364,000 after purchasing an additional 40,604 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Kymera Therapeutics by 2.5% in the 1st quarter. Jennison Associates LLC now owns 508,999 shares of the company's stock worth $42,395,000 after acquiring an additional 12,334 shares during the period.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins through targeted protein degradation. Its approach is designed to use the cell's natural protein-disposal system to remove proteins that may be difficult to address with conventional drug modalities.

The company's research and development programs have targeted a range of disease areas, including immune-mediated and inflammatory conditions, cancer, and other serious illnesses.

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