Leerink Partners Reaffirms Outperform Rating for Kymera Therapeutics (NASDAQ:KYMR)

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Leerink Partners in a note issued to investors on Friday,Benzinga reports. They presently have a $60.00 price objective on the stock. Leerink Partners' target price suggests a potential upside of 49.59% from the stock's previous close.

KYMR has been the topic of several other reports. Oppenheimer raised their price objective 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. Wells Fargo & Company raised Kymera Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $38.00 to $57.00 in a report on Monday, December 2nd. Guggenheim upped their price objective on Kymera Therapeutics from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Morgan Stanley lifted their target price on Kymera Therapeutics from $45.00 to $49.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 6th. Finally, BTIG Research began coverage on Kymera Therapeutics in a research note on Tuesday, December 10th. They issued a "buy" rating and a $60.00 price target for the company. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kymera Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $53.88.

Kymera Therapeutics Trading Down 4.5 %

NASDAQ KYMR traded down $1.91 on Friday, hitting $40.11. 429,236 shares of the company traded hands, compared to its average volume of 577,505. The business's 50 day moving average price is $45.44 and its 200-day moving average price is $43.41. Kymera Therapeutics has a 52-week low of $22.35 and a 52-week high of $53.27. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -17.14 and a beta of 2.16.

Kymera Therapeutics (NASDAQ:KYMR - Get Free Report) 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 return on equity of 24.96% and a negative net margin of 191.26%. The firm had revenue of $3.74 million for the quarter, compared to analysts' expectations of $10.34 million. During the same period in the previous year, the firm earned ($0.90) EPS. The business's quarterly revenue was down 20.9% on a year-over-year basis. As a group, sell-side analysts predict that Kymera Therapeutics will post -2.79 earnings per share for the current year.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Kymera Therapeutics by 5.8% during the 3rd quarter. FMR LLC now owns 5,109,141 shares of the company's stock valued at $241,816,000 after purchasing an additional 282,301 shares during the last quarter. Wellington Management Group LLP boosted its stake in Kymera Therapeutics by 7.2% during the third quarter. Wellington Management Group LLP now owns 4,618,359 shares of the company's stock worth $218,587,000 after buying an additional 308,954 shares during the period. Jennison Associates LLC increased its position in Kymera Therapeutics by 85.8% during the third quarter. Jennison Associates LLC now owns 797,681 shares of the company's stock valued at $37,754,000 after acquiring an additional 368,394 shares during the last quarter. Eventide Asset Management LLC raised its stake in shares of Kymera Therapeutics by 9.9% in the third quarter. Eventide Asset Management LLC now owns 507,902 shares of the company's stock valued at $24,039,000 after acquiring an additional 45,803 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Kymera Therapeutics by 11.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 453,377 shares of the company's stock worth $21,458,000 after acquiring an additional 47,507 shares during 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.