Morgan Stanley Raises Kymera Therapeutics (NASDAQ:KYMR) Price Target to $49.00

Kymera Therapeutics (NASDAQ:KYMR) had its target price raised by equities researchers at Morgan Stanley from $45.00 to $49.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 1.72% from the stock’s current price.

Several other research firms have also recently issued reports on KYMR. Wells Fargo & Company boosted their price objective on shares of Kymera Therapeutics from $30.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. B. Riley increased their price objective on Kymera Therapeutics from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Leerink Partnrs upgraded Kymera Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Wolfe Research raised shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Monday, August 26th. Finally, Oppenheimer raised their target price on shares of Kymera Therapeutics from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.21.

Kymera Therapeutics Stock Performance

KYMR stock opened at $49.86 on Wednesday. The firm has a fifty day moving average price of $46.98 and a 200 day moving average price of $40.99. Kymera Therapeutics has a fifty-two week low of $13.85 and a fifty-two week high of $53.27. The firm has a market cap of $3.23 billion, a PE ratio of -21.73 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last announced its earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.01. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.90) EPS. On average, equities analysts predict that Kymera Therapeutics will post -2.83 EPS for the current year.

Insider Buying and Selling at Kymera Therapeutics

In other Kymera Therapeutics news, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction that occurred 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 filing with the SEC, which can be accessed through the SEC website. In other news, Director Pamela Esposito sold 13,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.10, for a total value of $245,500.00. The disclosure for this sale can be found here. 15.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors have recently made changes to their positions in KYMR. Price T Rowe Associates Inc. MD increased its position in Kymera Therapeutics by 18.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,332,012 shares of the company’s stock worth $254,548,000 after purchasing an additional 996,300 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Kymera Therapeutics by 19.2% during the first quarter. Vanguard Group Inc. now owns 4,767,050 shares of the company’s stock worth $191,635,000 after buying an additional 769,486 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Kymera Therapeutics by 3.0% in the first quarter. Avoro Capital Advisors LLC now owns 3,888,888 shares of the company’s stock valued at $156,333,000 after buying an additional 113,888 shares during the last quarter. Artal Group S.A. raised its position in shares of Kymera Therapeutics by 19.6% in the first quarter. Artal Group S.A. now owns 3,027,135 shares of the company’s stock valued at $121,691,000 after buying an additional 496,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Kymera Therapeutics by 2.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 405,870 shares of the company’s stock valued at $12,115,000 after buying an additional 10,731 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.