BTIG Research Reaffirms Buy Rating for Kymera Therapeutics (NASDAQ:KYMR)

Kymera Therapeutics (NASDAQ:KYMR)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $138.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 98.45% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Guggenheim assumed coverage on Kymera Therapeutics in a research note on Monday, November 3rd. They issued a “buy” rating and a $90.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Wednesday, October 8th. Bank of America raised their target price on shares of Kymera Therapeutics from $71.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Piper Sandler reissued an “overweight” rating and issued a $125.00 price target (up previously from $98.00) on shares of Kymera Therapeutics in a research note on Tuesday, December 9th. Finally, Oppenheimer increased their price target on shares of Kymera Therapeutics from $67.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $116.30.

Kymera Therapeutics Stock Performance

Shares of KYMR opened at $69.54 on Thursday. Kymera Therapeutics has a 52-week low of $19.44 and a 52-week high of $103.00. The stock’s 50-day simple moving average is $74.20 and its 200 day simple moving average is $57.87. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -19.37 and a beta of 2.21.

Kymera Therapeutics (NASDAQ:KYMR) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.19). Kymera Therapeutics had a negative net margin of 674.81% and a negative return on equity of 32.92%. The firm had revenue of $2.76 million during the quarter, compared to the consensus estimate of $23.15 million. On average, research analysts forecast that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other news, Director Bros. Advisors Lp Baker purchased 2,005,813 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of $86.00 per share, with a total value of $172,499,918.00. Following the transaction, the director directly owned 7,955,916 shares of the company’s stock, valued at approximately $684,208,776. This represents a 33.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nello Mainolfi sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $78.06, for a total value of $2,341,800.00. Following the completion of the sale, the chief executive officer directly owned 663,077 shares in the company, valued at $51,759,790.62. The trade was a 4.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 450,895 shares of company stock worth $39,608,051 over the last ninety days. Insiders own 16.01% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Several hedge funds have recently made changes to their positions in KYMR. Farther Finance Advisors LLC boosted its position in shares of Kymera Therapeutics by 642.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 624 shares of the company’s stock worth $27,000 after purchasing an additional 540 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Kymera Therapeutics by 506.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 922 shares of the company’s stock worth $40,000 after buying an additional 770 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Kymera Therapeutics by 81.5% in the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after acquiring an additional 349 shares during the period. Osaic Holdings Inc. lifted its holdings in Kymera Therapeutics by 18,050.0% in the second quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock valued at $48,000 after acquiring an additional 1,083 shares during the period. Finally, Bessemer Group Inc. boosted its position in Kymera Therapeutics by 652.0% in the third quarter. Bessemer Group Inc. now owns 940 shares of the company’s stock worth $53,000 after purchasing an additional 815 shares during the last quarter.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.