Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $70.00 at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Kymera Therapeutics from $60.00 to $70.00, indicating a potential upside of 45.47% from its previous close, maintaining a "buy" rating.
• The stock currently has a consensus rating of "Buy" with an average target price of $59.95, as reported by various analysts, including Royal Bank of Canada and JPMorgan Chase.
• Kymera Therapeutics reported a quarterly loss of ($0.95) earnings per share, missing estimates, while its revenue declined by 55.1% compared to the same quarter last year.

Kymera Therapeutics (NASDAQ:KYMR - Free Report) had its target price increased by HC Wainwright from $60.00 to $70.00 in a research note published on Thursday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group set a $64.00 target price on shares of Kymera Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, June 25th. BTIG Research restated a "buy" rating and set a $59.00 target price on shares of Kymera Therapeutics in a research note on Thursday, June 26th. B. Riley upgraded shares of Kymera Therapeutics to a "strong-buy" rating and set a $60.00 target price on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada started coverage on shares of Kymera Therapeutics in a research note on Tuesday, September 16th. They set an "outperform" rating and a $70.00 target price on the stock. Finally, Oppenheimer restated an "outperform" rating and set a $53.00 target price (down previously from $56.00) on shares of Kymera Therapeutics in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $59.95.

Kymera Therapeutics Price Performance

Shares of NASDAQ:KYMR traded up $1.58 during trading on Thursday, hitting $50.71. The company's stock had a trading volume of 315,742 shares, compared to its average volume of 750,586. The company has a 50-day moving average of $43.85 and a 200-day moving average of $37.96. Kymera Therapeutics has a 12 month low of $19.44 and a 12 month high of $53.27. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -14.59 and a beta of 2.17.

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

Insider Activity

In other news, CEO Nello Mainolfi sold 30,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $49.00, for a total transaction of $1,470,000.00. Following the transaction, the chief executive officer owned 660,482 shares in the company, valued at $32,363,618. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bvf Partners L. P/Il acquired 317,167 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $44.00 per share, for a total transaction of $13,955,348.00. Following the acquisition, the director owned 2,798,795 shares of the company's stock, valued at approximately $123,146,980. This represents a 12.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kymera Therapeutics

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 540 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Kymera Therapeutics by 506.6% during the second quarter. PNC Financial Services Group Inc. now owns 922 shares of the company's stock valued at $40,000 after acquiring an additional 770 shares in the last quarter. Osaic Holdings Inc. boosted its position in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company's stock valued at $48,000 after buying an additional 1,083 shares during the last quarter. State of Wyoming purchased a new stake in Kymera Therapeutics in the fourth quarter valued at approximately $45,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Kymera Therapeutics in the fourth quarter valued at approximately $55,000.

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.