Kymera Therapeutics (NASDAQ:KYMR) Rating Increased to Buy at B. Riley

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) was upgraded by equities research analysts at B. Riley from a "neutral" rating to a "buy" rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $38.00. B. Riley's price target would indicate a potential upside of 25.89% from the company's current price.

KYMR has been the subject of several other reports. Citigroup assumed coverage on Kymera Therapeutics in a report on Thursday, March 13th. They set a "buy" rating and a $52.00 price objective for the company. HC Wainwright lifted their price target on shares of Kymera Therapeutics from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wall Street Zen upgraded shares of Kymera Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley raised shares of Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $49.00 to $79.00 in a report on Tuesday. Finally, Bank of America upgraded shares of Kymera Therapeutics from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a research report on Monday. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.35.

Kymera Therapeutics Stock Up 7.7%

KYMR stock traded up $3.40 during trading on Tuesday, hitting $47.66. The company had a trading volume of 1,323,185 shares, compared to its average volume of 608,364. The firm has a 50-day moving average price of $29.40 and a 200-day moving average price of $35.71. Kymera Therapeutics has a 12 month low of $19.45 and a 12 month high of $53.27. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -20.37 and a beta of 2.07.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.10. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company had revenue of $22.10 million during the quarter, compared to analysts' expectations of $11.38 million. During the same period last year, the firm earned ($0.69) EPS. The business's revenue for the quarter was up 114.6% on a year-over-year basis. Equities analysts expect that Kymera Therapeutics will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, Director Elena Ridloff sold 12,000 shares of Kymera Therapeutics stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $46.10, for a total transaction of $553,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 6,349 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $49.00, for a total value of $311,101.00. The disclosure for this sale can be found here. Insiders sold 48,349 shares of company stock worth $2,334,301 over the last ninety days. 16.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kymera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Kymera Therapeutics by 74.8% in the 4th quarter. Blue Trust Inc. now owns 631 shares of the company's stock valued at $25,000 after buying an additional 270 shares during the last quarter. KBC Group NV grew its stake in shares of Kymera Therapeutics by 15.2% during the 1st quarter. KBC Group NV now owns 2,479 shares of the company's stock worth $68,000 after acquiring an additional 328 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Kymera Therapeutics by 9.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,912 shares of the company's stock valued at $198,000 after purchasing an additional 406 shares during the last quarter. Comerica Bank lifted its position in shares of Kymera Therapeutics by 3.6% in the first quarter. Comerica Bank now owns 21,374 shares of the company's stock worth $585,000 after purchasing an additional 743 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Kymera Therapeutics by 6.1% during the first quarter. Hsbc Holdings PLC now owns 18,547 shares of the company's stock worth $508,000 after purchasing an additional 1,064 shares during the last quarter.

Kymera Therapeutics Company Profile

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.