Kymera Therapeutics (NASDAQ:KYMR) Given New $56.00 Price Target at Oppenheimer

Kymera Therapeutics (NASDAQ:KYMR) had its target price boosted by equities research analysts at Oppenheimer from $52.00 to $56.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 13.20% from the stock’s current price.

A number of other research analysts have also weighed in on KYMR. Leerink Partnrs raised shares of Kymera Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Morgan Stanley lifted their price objective on shares of Kymera Therapeutics from $34.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. HC Wainwright restated a “buy” rating and set a $46.00 target price on shares of Kymera Therapeutics in a research report on Monday, June 17th. B. Riley increased their price target on shares of Kymera Therapeutics from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, Wolfe Research raised Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Kymera Therapeutics Stock Down 4.7 %

Shares of KYMR stock opened at $49.47 on Friday. The company’s fifty day simple moving average is $45.68 and its two-hundred day simple moving average is $39.32. Kymera Therapeutics has a 52 week low of $9.60 and a 52 week high of $53.27. The stock has a market cap of $3.05 billion, a P/E ratio of -19.71 and a beta of 2.22.

Kymera Therapeutics (NASDAQ:KYMR) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.10. The company had revenue of $25.60 million for the quarter, compared to the consensus estimate of $12.55 million. Kymera Therapeutics had a negative return on equity of 28.88% and a negative net margin of 178.27%. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.67) earnings per share. On average, analysts anticipate that Kymera Therapeutics will post -2.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pamela Esposito sold 13,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Kymera Therapeutics news, insider Jared Gollob sold 23,145 shares of Kymera Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $45.81, for a total transaction of $1,060,272.45. Following the completion of the sale, the insider now directly owns 95,470 shares of the company’s stock, valued at approximately $4,373,480.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pamela Esposito sold 13,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The disclosure for this sale can be found here. Insiders have sold a total of 495,605 shares of company stock worth $19,303,364 over the last quarter. Company insiders own 15.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KYMR. Ameritas Investment Partners Inc. lifted its position in shares of Kymera Therapeutics by 7.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,070 shares of the company’s stock worth $164,000 after purchasing an additional 295 shares during the period. Comerica Bank lifted its holdings in Kymera Therapeutics by 13.7% during the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the period. Keudell Morrison Wealth Management boosted its position in Kymera Therapeutics by 7.2% during the 2nd quarter. Keudell Morrison Wealth Management now owns 7,105 shares of the company’s stock valued at $212,000 after acquiring an additional 480 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Kymera Therapeutics by 1.2% during the 1st quarter. Congress Asset Management Co. MA now owns 45,836 shares of the company’s stock valued at $1,843,000 after acquiring an additional 533 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Kymera Therapeutics by 4.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,098 shares of the company’s stock valued at $486,000 after acquiring an additional 547 shares during the period.

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.