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

Kymera Therapeutics (NASDAQ:KYMR) had its price objective upped by Morgan Stanley from $45.00 to $49.00 in a report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Wolfe Research upgraded shares of Kymera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Monday, August 26th. UBS Group dropped their target price on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Leerink Partners reiterated an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a research report on Monday, September 9th. Guggenheim boosted their price objective on Kymera Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer raised their target price on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kymera Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $51.21.

Kymera Therapeutics Price Performance

NASDAQ:KYMR opened at $50.95 on Wednesday. The company has a market capitalization of $3.30 billion, a P/E ratio of -21.77 and a beta of 2.21. The business has a fifty day simple moving average of $47.06 and a two-hundred day simple moving average of $41.16. Kymera Therapeutics has a 1 year low of $13.85 and a 1 year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last announced its quarterly earnings data 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 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 firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.90) EPS. As a group, analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Insider Activity at Kymera Therapeutics

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

Institutional Trading of Kymera Therapeutics

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Kymera Therapeutics in the third quarter valued at about $650,000. Jennison Associates LLC increased its holdings in Kymera Therapeutics by 85.8% during the 3rd quarter. Jennison Associates LLC now owns 797,681 shares of the company’s stock valued at $37,754,000 after purchasing an additional 368,394 shares during the period. Thrivent Financial for Lutherans bought a new position in Kymera Therapeutics during the 3rd quarter valued at approximately $313,000. Natixis Advisors LLC purchased a new stake in Kymera Therapeutics in the 3rd quarter worth approximately $681,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Kymera Therapeutics by 30.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 40,303 shares of the company’s stock worth $1,908,000 after buying an additional 9,292 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.