Bank of America Raises Kymera Therapeutics (NASDAQ:KYMR) Price Target to $112.00

Kymera Therapeutics (NASDAQ:KYMR) had its price target lifted by stock analysts at Bank of America from $71.00 to $112.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 18.77% from the company’s current price.

Other research analysts have also issued reports about the stock. Jefferies Financial Group reissued a “buy” rating and issued a $73.00 target price on shares of Kymera Therapeutics in a report on Tuesday, November 4th. Oppenheimer restated an “outperform” rating and set a $67.00 target price on shares of Kymera Therapeutics in a research report on Tuesday, November 4th. Royal Bank Of Canada started coverage on Kymera Therapeutics in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $70.00 price target for the company. Guggenheim assumed coverage on Kymera Therapeutics in a research note on Monday, November 3rd. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Wall Street Zen raised Kymera Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $89.95.

Kymera Therapeutics Price Performance

Shares of KYMR opened at $94.30 on Tuesday. Kymera Therapeutics has a 1 year low of $19.44 and a 1 year high of $103.00. The company has a 50 day simple moving average of $62.19 and a two-hundred day simple moving average of $50.50. The firm has a market cap of $6.78 billion, a P/E ratio of -26.27 and a beta of 2.28.

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

Insiders Place Their Bets

In related news, insider Jared Gollob sold 59,576 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.42, for a total value of $3,659,157.92. Following the completion of the sale, the insider owned 109,992 shares in the company, valued at approximately $6,755,708.64. The trade was a 35.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $89.76, for a total value of $448,800.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 361,217 shares of company stock worth $25,140,500. Insiders own 16.01% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in KYMR. US Bancorp DE increased its stake in shares of Kymera Therapeutics by 9.8% during the third quarter. US Bancorp DE now owns 1,865 shares of the company’s stock valued at $106,000 after buying an additional 166 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kymera Therapeutics by 9.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,764 shares of the company’s stock worth $156,000 after acquiring an additional 248 shares in the last quarter. Larson Financial Group LLC increased its position in Kymera Therapeutics by 81.5% during the 3rd quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock valued at $44,000 after purchasing an additional 349 shares during the period. Farther Finance Advisors LLC raised its holdings 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 valued at $27,000 after purchasing an additional 540 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Kymera Therapeutics by 3.6% in the 1st quarter. Comerica Bank now owns 21,374 shares of the company’s stock worth $585,000 after purchasing an additional 743 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.