Leerink Partners Reaffirms “Outperform” Rating for Kymera Therapeutics (NASDAQ:KYMR)

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “outperform” rating restated by analysts at Leerink Partners in a research note issued on Friday,Benzinga reports. They currently have a $60.00 price objective on the stock. Leerink Partners’ target price would suggest a potential upside of 49.59% from the stock’s previous close.

Several other equities analysts have also recently weighed in on KYMR. BMO Capital Markets began coverage on shares of Kymera Therapeutics in a research note on Friday, December 6th. They set a “market perform” rating and a $55.00 target price for the company. Wells Fargo & Company raised Kymera Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $57.00 in a report on Monday, December 2nd. Morgan Stanley boosted their price target on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Leerink Partnrs upgraded shares of Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Oppenheimer boosted their target price on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Kymera Therapeutics Price Performance

KYMR opened at $40.11 on Friday. The company has a 50 day simple moving average of $45.44 and a two-hundred day simple moving average of $43.47. The firm has a market cap of $2.60 billion, a P/E ratio of -17.14 and a beta of 2.16. Kymera Therapeutics has a 1-year low of $22.35 and a 1-year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last issued its earnings results on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.01. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $10.34 million. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. Kymera Therapeutics’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.90) EPS. Equities analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Institutional Trading of Kymera Therapeutics

Large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Kymera Therapeutics by 11.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company’s stock valued at $21,458,000 after buying an additional 47,507 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Kymera Therapeutics by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 156,211 shares of the company’s stock valued at $4,663,000 after acquiring an additional 25,317 shares in the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Kymera Therapeutics by 9.9% in the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company’s stock valued at $24,039,000 after purchasing an additional 45,803 shares during the period. Renaissance Technologies LLC bought a new position in Kymera Therapeutics in the second quarter worth approximately $4,271,000. Finally, E Fund Management Co. Ltd. grew its stake in Kymera Therapeutics by 391.2% in the second quarter. E Fund Management Co. Ltd. now owns 48,946 shares of the company’s stock worth $1,461,000 after purchasing an additional 38,981 shares in 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.