Kymera Therapeutics, Inc. (NASDAQ:KYMR) Stock Has Average Target Price of $134.68

Key Points

• Analysts maintain a bullish outlook: Kymera Therapeutics has a consensus “Moderate Buy” rating, with 23 buy ratings and one strong buy among 27 analysts. The average 12-month price target is $134.68.
• Quarterly results exceeded expectations: Kymera reported a loss of $0.62 per share versus the expected $0.71 loss, while revenue reached $65 million, up 465.2% year over year and well above estimates.
• Shares remain volatile and the company is unprofitable: KYMR opened at $112.40, versus a 52-week range of $55.26 to $130.05, and has a market capitalization of $9.35 billion. The company posted a negative net margin of 285.33%, while insiders own 15.98% of shares and recently reported stock sales.

Kymera Therapeutics, Inc. (NASDAQ:KYMR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $134.68.

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Kymera Therapeutics in a report on Thursday, July 30th. They issued a "hold" rating and a $120.00 target price on the stock. Barclays lifted their price target on Kymera Therapeutics from $133.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Wolfe Research raised Kymera Therapeutics from a "peer perform" rating to an "outperform" rating and set a $180.00 price objective on the stock in a research note on Thursday, September 10th. Piper Sandler restated an "overweight" rating and set a $140.00 price objective on shares of Kymera Therapeutics in a research report on Wednesday, September 23rd. Finally, Canaccord Genuity Group raised their price objective on Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, June 26th.

Kymera Therapeutics Stock Performance

KYMR stock opened at $112.40 on Friday. The company's fifty day moving average price is $114.90 and its 200-day moving average price is $99.97. Kymera Therapeutics has a one year low of $55.26 and a one year high of $130.05. The company has a market capitalization of $9.35 billion, a PE ratio of -34.69 and a beta of 1.98.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.62) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $32.78 million. During the same period last year, the firm posted ($0.95) earnings per share. Kymera Therapeutics's revenue for the quarter was up 465.2% compared to the same quarter last year. On average, research analysts predict that Kymera Therapeutics will post -3.83 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Kymera Therapeutics

A number of large investors have recently made changes to their positions in KYMR. Baker BROS. Advisors LP lifted its stake in shares of Kymera Therapeutics by 30.2% during the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock worth $673,620,000 after acquiring an additional 2,005,813 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Kymera Therapeutics by 17.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 7,474,747 shares of the company's stock worth $581,610,000 after purchasing an additional 1,124,747 shares during the period. BlackRock Inc. bought a new stake in shares of Kymera Therapeutics during the second quarter worth $635,067,000. Merck & Co. Inc. bought a new stake in shares of Kymera Therapeutics during the second quarter worth $88,544,161. Finally, Jennison Associates LLC boosted its stake in shares of Kymera Therapeutics by 2.5% during the first quarter. Jennison Associates LLC now owns 508,999 shares of the company's stock valued at $42,395,000 after purchasing 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 remove disease-causing proteins from cells. The company uses its targeted protein degradation platform, including molecular glue degraders, to address proteins that may be difficult to inhibit with conventional small-molecule drugs.

Kymera's research and development activities center on immune-inflammatory diseases and cancer. Its pipeline has included investigational degraders designed to target proteins such as interleukin-1 receptor-associated kinase 4 (IRAK4) and signal transducer and activator of transcription 6 (STAT6), with the goal of treating conditions involving abnormal immune signaling.

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