B. Riley Issues Positive Forecast for Kymera Therapeutics (NASDAQ:KYMR) Stock Price

Key Points

• B. Riley has raised its price target for Kymera Therapeutics from $60.00 to $80.00, suggesting a potential upside of 38.5% from the previous close.
• Despite recent insider selling, analysts maintain a positive outlook with two Strong Buy and eighteen Buy ratings, resulting in an average price target of $65.45.
• Kymera Therapeutics reported a significant earnings miss with a net loss of $0.95 EPS, along with a 55.1% decline in quarterly revenue year-over-year.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price target raised by research analysts at B. Riley from $60.00 to $80.00 in a research report issued on Friday. The firm currently has a "buy" rating on the stock. B. Riley's price objective would suggest a potential upside of 38.50% from the company's previous close.

Other analysts also recently issued research reports about the company. BTIG Research lifted their price target on Kymera Therapeutics from $59.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays began coverage on Kymera Therapeutics in a research report on Wednesday, September 17th. They issued an "overweight" rating and a $60.00 target price for the company. Oppenheimer boosted their target price on Kymera Therapeutics from $53.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Wall Street Zen downgraded Kymera Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Truist Financial boosted their target price on Kymera Therapeutics from $53.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.45.

Kymera Therapeutics Trading Up 3.5%

Shares of KYMR opened at $57.76 on Friday. The company has a market cap of $4.13 billion, a PE ratio of -16.65 and a beta of 2.26. The stock has a 50-day moving average price of $50.29 and a 200-day moving average price of $42.22. Kymera Therapeutics has a 12-month low of $19.44 and a 12-month high of $63.96.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $11.48 million for the quarter, compared to the consensus estimate of $17.37 million. Kymera Therapeutics had a negative net margin of 616.03% and a negative return on equity of 31.60%. The business's revenue was down 55.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.58) EPS. As a group, analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jared Gollob sold 59,576 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total transaction of $3,659,157.92. Following the transaction, the insider directly owned 109,992 shares of the company's stock, valued at approximately $6,755,708.64. The trade was a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $59.19, for a total value of $295,950.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,910 shares of company stock worth $9,572,948. Company insiders own 16.01% of the company's stock.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in shares of Kymera Therapeutics by 642.9% during the second quarter. Farther Finance Advisors LLC now owns 624 shares of the company's stock valued at $27,000 after buying an additional 540 shares during the period. PNC Financial Services Group Inc. grew its stake in Kymera Therapeutics by 506.6% in the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock worth $40,000 after purchasing an additional 770 shares during the period. Osaic Holdings Inc. grew its stake in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock worth $48,000 after purchasing an additional 1,083 shares during the period. Raymond James Financial Inc. purchased a new stake in Kymera Therapeutics in the second quarter worth $73,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Kymera Therapeutics in the first quarter worth $68,000.

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.

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