BMO Capital Markets Initiates Coverage on Kymera Therapeutics (NASDAQ:KYMR)

BMO Capital Markets assumed coverage on shares of Kymera Therapeutics (NASDAQ:KYMR - Free Report) in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage issued a market perform rating and a $55.00 price objective on the stock.

Several other equities analysts have also recently weighed in on KYMR. Wells Fargo & Company upgraded shares of Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $38.00 to $57.00 in a research report on Monday. Guggenheim lifted their target price on Kymera Therapeutics from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Leerink Partnrs upgraded shares of Kymera Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Truist Financial reiterated a "buy" rating and issued a $53.00 price objective (down previously from $54.00) on shares of Kymera Therapeutics in a research note on Friday, November 1st. Finally, UBS Group decreased their target price on shares of Kymera Therapeutics from $80.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.50.

Kymera Therapeutics Stock Performance

NASDAQ KYMR traded up $2.59 on Friday, reaching $46.67. The company's stock had a trading volume of 371,606 shares, compared to its average volume of 581,196. The firm's 50 day moving average is $46.44 and its two-hundred day moving average is $42.47. The stock has a market cap of $3.02 billion, a PE ratio of -20.06 and a beta of 2.16. Kymera Therapeutics has a twelve month low of $21.20 and a twelve month high of $53.27.

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

Insider Transactions at Kymera Therapeutics

In related news, Director Pamela Esposito sold 13,500 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total transaction of $651,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Kymera Therapeutics

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in Kymera Therapeutics by 5.8% in the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company's stock worth $241,816,000 after purchasing an additional 282,301 shares during the last quarter. Wellington Management Group LLP raised its holdings in Kymera Therapeutics by 7.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company's stock worth $218,587,000 after purchasing an additional 308,954 shares during the last quarter. Jennison Associates LLC lifted its position 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. Eventide Asset Management LLC lifted its position in Kymera Therapeutics by 9.9% during the 3rd 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. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Kymera Therapeutics by 11.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company's stock worth $21,458,000 after buying an additional 47,507 shares during the period.

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.