Morgan Stanley Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its price objective raised by Morgan Stanley from $45.00 to $49.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also weighed in on KYMR. UBS Group lowered their price objective on shares of Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday. 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 research report on Friday, September 27th. Leerink Partners reaffirmed an “outperform” rating and set a $60.00 price target on shares of Kymera Therapeutics in a research note on Monday, September 9th. B. Riley lifted their price target on Kymera Therapeutics from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $53.00 price target (down previously from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.21.

Kymera Therapeutics Trading Down 0.3 %

Shares of Kymera Therapeutics stock traded down $0.16 during trading on Wednesday, reaching $49.32. The company’s stock had a trading volume of 19,477 shares, compared to its average volume of 592,594. The company has a 50-day moving average price of $46.96 and a two-hundred day moving average price of $40.93. 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 $3.19 billion, a PE ratio of -21.15 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.01. Kymera Therapeutics had a negative net margin of 191.26% and a negative return on equity of 24.96%. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same period last year, the firm posted ($0.90) EPS. Kymera Therapeutics’s quarterly revenue was down 20.9% on a year-over-year basis. On average, analysts predict that Kymera Therapeutics will post -2.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.10, for a total transaction of $245,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela Esposito sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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. Company insiders own 15.82% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

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

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.