Kymera Therapeutics (NASDAQ:KYMR) Raised to “Overweight” at Wells Fargo & Company

Kymera Therapeutics (NASDAQ:KYMR) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $57.00 target price on the stock, up from their previous target price of $38.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.51% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Oppenheimer upped their price objective on Kymera Therapeutics from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Truist Financial reissued a “buy” rating and set a $53.00 price target (down from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. UBS Group decreased their price objective on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a report on Monday, November 4th. Morgan Stanley increased their price target on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Stephens initiated coverage on shares of Kymera Therapeutics in a research report on Monday, November 18th. They issued an “overweight” rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Kymera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $53.40.

Kymera Therapeutics Stock Performance

KYMR stock opened at $46.91 on Monday. The stock has a 50-day simple moving average of $46.66 and a 200-day simple moving average of $42.43. The firm has a market cap of $3.04 billion, a P/E ratio of -20.05 and a beta of 2.16. Kymera Therapeutics has a 1 year low of $20.32 and a 1 year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. The business had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.90) earnings per share. On average, equities research analysts predict that Kymera Therapeutics will post -2.79 EPS for the current year.

Insider Activity at Kymera Therapeutics

In other news, Director Pamela Esposito sold 13,500 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KYMR. Values First Advisors Inc. purchased a new position in shares of Kymera Therapeutics during the 3rd quarter valued at $61,000. Quarry LP purchased a new position in Kymera Therapeutics in the third quarter valued at about $95,000. Mirae Asset Global Investments Co. Ltd. increased its position in Kymera Therapeutics by 27.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after purchasing an additional 504 shares during the last quarter. Comerica Bank raised its stake in shares of Kymera Therapeutics by 13.7% during the 1st quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Kymera Therapeutics in the 2nd quarter valued at approximately $139,000.

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.