Stifel Nicolaus Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Key Points

• Stifel Nicolaus raised Kymera Therapeutics’ price target to $152 from $132 and maintained a “buy” rating, implying approximately 29% upside from the prior close.
• Analyst sentiment is broadly positive: Kymera has an overall “Moderate Buy” rating and an average price target of $133.21, with 22 analysts rating it a Buy.
• Kymera’s latest quarterly results exceeded expectations, with revenue of $65 million—up 465.2% year over year—and an EPS loss of $0.62 versus the $0.71 consensus estimate.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price target upped by equities researchers at Stifel Nicolaus from $132.00 to $152.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 29.17% from the company's previous close.

A number of other equities research analysts have also recently weighed in on KYMR. B. Riley Financial upped their price target on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kymera Therapeutics in a research report on Thursday, July 30th. They issued a "hold" rating and a $120.00 price objective on the stock. Citigroup reissued a "buy" rating on shares of Kymera Therapeutics in a research note on Thursday, August 6th. Finally, Bank of America lifted their target price on shares of Kymera Therapeutics from $123.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Kymera Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $133.21.

Kymera Therapeutics Price Performance

KYMR opened at $117.67 on Tuesday. Kymera Therapeutics has a 12 month low of $47.90 and a 12 month high of $130.05. The stock has a market capitalization of $9.78 billion, a P/E ratio of -36.32 and a beta of 1.96. The business has a 50 day simple moving average of $114.50 and a 200-day simple moving average of $97.12.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.62) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.09. Kymera Therapeutics had a negative net margin of 285.33% and a negative return on equity of 21.22%. The firm had revenue of $65.00 million for the quarter, compared to the consensus estimate of $32.78 million. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. The firm's revenue was up 465.2% on a year-over-year basis. Research analysts anticipate that Kymera Therapeutics will post -3.83 EPS for the current year.

Insider Activity

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the stock in a transaction on 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 transaction, the director owned 240,123 shares of the company's stock, valued at $25,573,099.50. This represents a 86.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Nello Mainolfi sold 80,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $115.29, for a total transaction of $9,223,200.00. Following the transaction, the chief executive officer directly owned 666,568 shares of the company's stock, valued at $76,848,624.72. This trade represents a 10.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,080,096 shares of company stock worth $337,948,342. Company insiders own 15.98% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its stake in Kymera Therapeutics by 657.0% during the second quarter. Squarepoint Ops LLC now owns 97,189 shares of the company's stock worth $11,145,000 after acquiring an additional 84,350 shares during the last quarter. Nykredit A S acquired a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $207,000. Allianz Asset Management GmbH acquired a new position in shares of Kymera Therapeutics in the 2nd quarter valued at about $516,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Kymera Therapeutics during the 2nd quarter worth about $344,000. Finally, DMC Group LLC acquired a new stake in Kymera Therapeutics during the 2nd quarter worth approximately $229,000.

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.

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