Kymera Therapeutics (NASDAQ:KYMR) Raised to Strong-Buy at The Goldman Sachs Group

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on KYMR. B. Riley raised Kymera Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $38.00 to $60.00 in a report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their price target on Kymera Therapeutics from $57.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. BTIG Research restated a "buy" rating and issued a $59.00 price target on shares of Kymera Therapeutics in a research report on Thursday, June 26th. Morgan Stanley initiated coverage on Kymera Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $70.00 price target for the company. Finally, Jefferies Financial Group set a $64.00 price target on Kymera Therapeutics and gave the company a "buy" rating in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $59.11.

Kymera Therapeutics Trading Up 0.7%

NASDAQ:KYMR traded up $0.32 during trading hours on Tuesday, hitting $46.50. 172,268 shares of the stock were exchanged, compared to its average volume of 616,361. The firm's fifty day moving average price is $40.99 and its 200 day moving average price is $36.18. Kymera Therapeutics has a 52-week low of $19.45 and a 52-week high of $53.27. The company has a market cap of $3.03 billion, a P/E ratio of -14.97 and a beta of 2.18.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 30.11% and a negative net margin of 409.07%. The business had revenue of $22.10 million during the quarter, compared to analysts' expectations of $11.38 million. During the same quarter in the prior year, the firm earned ($0.69) earnings per share. The business's revenue was up 114.6% compared to the same quarter last year. Equities analysts expect that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kymera Therapeutics news, Director Bvf Partners L. P/Il purchased 317,167 shares of the firm's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $44.00 per share, with a total value of $13,955,348.00. Following the acquisition, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker purchased 655,500 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $44.00 per share, with a total value of $28,842,000.00. Following the completion of the acquisition, the director directly owned 6,117,295 shares in the company, valued at $269,160,980. The trade was a 12.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 48,349 shares of company stock valued at $2,334,301. 16.01% of the stock is owned by company insiders.

Institutional Trading of Kymera Therapeutics

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Kymera Therapeutics by 13.0% during the first quarter. Wellington Management Group LLP now owns 5,996,873 shares of the company's stock worth $164,134,000 after buying an additional 689,547 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of Kymera Therapeutics by 14.4% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,150,000 shares of the company's stock worth $207,184,000 after purchasing an additional 650,000 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Kymera Therapeutics during the 4th quarter worth approximately $23,856,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Kymera Therapeutics by 121.5% during 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 worth $24,535,000 after purchasing an additional 491,737 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Kymera Therapeutics in the 4th quarter valued at $17,098,000.

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.