Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $135.00

Key Points

• Guggenheim raised Kymera Therapeutics’ price target to $135 from $125 and maintained a “buy” rating, implying approximately 22.7% upside. The analyst consensus remains “Moderate Buy,” with an average target of $124.68.
• Kymera reported quarterly EPS of -$0.71, beating estimates of -$0.89, while revenue of $34.37 million significantly exceeded expectations and increased 55.5% year over year.
• Shares opened at $110.05, giving the company a market capitalization of about $9.05 billion. Insiders sold roughly $390.3 million of stock over the past 90 days, while several institutional investors increased their positions.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price target increased by investment analysts at Guggenheim from $125.00 to $135.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the stock. Guggenheim's target price would suggest a potential upside of 22.67% from the company's current price.

Several other brokerages have also recently issued reports on KYMR. Brookline Capital Markets restated a "buy" rating on shares of Kymera Therapeutics in a research report on Monday, June 8th. Wall Street Zen raised shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Mizuho increased their price objective on Kymera Therapeutics from $120.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. B. Riley Financial raised their target price on Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kymera Therapeutics in a report on Friday, July 17th. Twenty research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Kymera Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $124.68.

Kymera Therapeutics Stock Down 0.5%

Shares of KYMR stock opened at $110.05 on Tuesday. Kymera Therapeutics has a twelve month low of $36.65 and a twelve month high of $130.05. The stock's fifty day simple moving average is $96.85 and its 200 day simple moving average is $86.91. The firm has a market capitalization of $9.05 billion, a P/E ratio of -30.83 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.18. The company had revenue of $34.37 million during the quarter, compared to the consensus estimate of $8.27 million. Kymera Therapeutics had a negative return on equity of 24.71% and a negative net margin of 611.94%.The firm's revenue was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. As a group, equities research analysts expect that Kymera Therapeutics will post -3.28 EPS for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other Kymera Therapeutics news, insider Noah Goodman sold 3,389 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $114.29, for a total transaction of $387,328.81. Following the completion of the sale, the insider directly owned 47,179 shares in the company, valued at approximately $5,392,087.91. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nello Mainolfi sold 50,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total value of $5,950,000.00. Following the completion of the transaction, the chief executive officer directly owned 666,568 shares of the company's stock, valued at approximately $79,321,592. This trade represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,637,813 shares of company stock valued at $390,253,404 over the last 90 days. 15.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kymera Therapeutics

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Kymera Therapeutics by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,793 shares of the company's stock valued at $849,000 after buying an additional 1,833 shares during the period. Millennium Management LLC increased its stake in shares of Kymera Therapeutics by 340.4% in the 1st quarter. Millennium Management LLC now owns 510,480 shares of the company's stock valued at $13,972,000 after acquiring an additional 394,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Kymera Therapeutics by 121.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 896,404 shares of the company's stock valued at $24,535,000 after acquiring an additional 491,737 shares in the last quarter. Invesco Ltd. lifted its position in shares of Kymera Therapeutics by 13.8% during the 2nd quarter. Invesco Ltd. now owns 47,884 shares of the company's stock valued at $2,090,000 after acquiring an additional 5,809 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Kymera Therapeutics during the 2nd quarter valued at $265,000.

About Kymera Therapeutics

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body's natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company's proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company's pipeline emphasizes immunology and oncology.

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