Kymera Therapeutics (NASDAQ:KYMR) Price Target Raised to $140.00 at Mizuho

Key Points

• Mizuho raised its price target on Kymera Therapeutics from $120 to $140 and kept an “outperform” rating, implying about 22.7% upside from the prior close.
• Wall Street sentiment remains largely bullish, with 20 analysts rating the stock a Buy; the consensus price target is $122.64, while several firms recently lifted their own targets as high as $155.
• The stock has been volatile but strong: shares opened at $114.12, near their 12-month high of $130.05, after the company beat first-quarter EPS and revenue estimates and posted 55.5% year-over-year revenue growth.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) had its price objective upped by research analysts at Mizuho from $120.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's target price points to a potential upside of 22.68% from the stock's previous close.

Several other research firms also recently commented on KYMR. Morgan Stanley restated an "overweight" rating and set a $119.00 price objective on shares of Kymera Therapeutics in a report on Thursday, April 30th. Royal Bank Of Canada lowered shares of Kymera Therapeutics from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $106.00 to $115.00 in a research report on Monday. B. Riley Financial upped their price objective on shares of Kymera Therapeutics from $117.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Canaccord Genuity Group upped their price objective on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, BTIG Research reissued a "buy" rating and set a $134.00 price target on shares of Kymera Therapeutics in a research report on Thursday, June 25th. Twenty investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $122.64.

Kymera Therapeutics Stock Up 1.8%

Shares of NASDAQ KYMR opened at $114.12 on Thursday. The company has a market cap of $9.39 billion, a PE ratio of -31.97 and a beta of 1.95. The business's 50 day moving average price is $92.34 and its two-hundred day moving average price is $84.93. Kymera Therapeutics has a twelve month low of $36.65 and a twelve month high of $130.05.

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

Insider Activity at Kymera Therapeutics

In other news, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly 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 filing with the SEC, which is available through this link. Also, CEO Nello Mainolfi sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $119.00, for a total transaction of $5,950,000.00. Following the transaction, the chief executive officer owned 666,568 shares in the company, valued at $79,321,592. The trade was a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,644,113 shares of company stock valued at $390,820,176 over the last three months. Company insiders own 15.98% of the company's stock.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds have recently bought and sold shares of KYMR. Baker BROS. Advisors LP increased its stake in Kymera Therapeutics by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 8,657,242 shares of the company's stock valued at $673,620,000 after purchasing an additional 2,005,813 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in Kymera Therapeutics by 17.7% during the 4th 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. Price T Rowe Associates Inc. MD increased its stake in Kymera Therapeutics by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,159,335 shares of the company's stock worth $479,258,000 after buying an additional 1,061,957 shares during the period. Vanguard Group Inc. raised its position in shares of Kymera Therapeutics by 15.6% in the 4th quarter. Vanguard Group Inc. now owns 6,267,644 shares of the company's stock valued at $487,685,000 after purchasing an additional 845,922 shares in the last quarter. Finally, Commodore Capital LP bought a new stake in shares of Kymera Therapeutics in the 2nd quarter worth about $32,730,000.

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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