Stephens Reaffirms “Overweight” Rating for Kymera Therapeutics (NASDAQ:KYMR)

Stephens reaffirmed their overweight rating on shares of Kymera Therapeutics (NASDAQ:KYMR) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $60.00 price objective on the stock.

A number of other analysts have also recently commented on KYMR. Morgan Stanley increased their price target on shares of Kymera Therapeutics from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Oppenheimer lifted their price target on Kymera Therapeutics from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Guggenheim upped 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. UBS Group reduced their target price on Kymera Therapeutics from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, November 4th. 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 on the stock. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kymera Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $55.06.

Kymera Therapeutics Price Performance

Shares of NASDAQ:KYMR opened at $44.23 on Tuesday. The stock has a market capitalization of $2.86 billion, a PE ratio of -18.90 and a beta of 2.19. The company’s 50-day moving average price is $42.62 and its two-hundred day moving average price is $44.65. Kymera Therapeutics has a one year low of $29.24 and a one year high of $53.27.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.01. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $10.34 million. Kymera Therapeutics had a negative return on equity of 24.96% and a negative net margin of 191.26%. The business’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.90) earnings per share. On average, analysts anticipate that Kymera Therapeutics will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Kymera Therapeutics

In other news, insider Ellen Chiniara sold 3,129 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $41.75, for a total value of $130,635.75. Following the completion of the transaction, the insider now directly owns 54,826 shares in the company, valued at approximately $2,288,985.50. The trade was a 5.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KYMR. Dimensional Fund Advisors LP increased its stake in shares of Kymera Therapeutics by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 402,385 shares of the company’s stock valued at $12,012,000 after purchasing an additional 53,176 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Kymera Therapeutics in the second quarter worth about $4,271,000. Hsbc Holdings PLC grew its holdings in shares of Kymera Therapeutics by 81.0% during the 2nd quarter. Hsbc Holdings PLC now owns 18,182 shares of the company’s stock valued at $546,000 after purchasing an additional 8,139 shares during the last quarter. XTX Topco Ltd acquired a new position in Kymera Therapeutics during the 2nd quarter worth approximately $201,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Kymera Therapeutics in the 2nd quarter valued at approximately $139,000.

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.