Mizuho Forecasts Strong Price Appreciation for Kymera Therapeutics (NASDAQ:KYMR) Stock

Kymera Therapeutics (NASDAQ:KYMR) had its target price lifted by investment analysts at Mizuho from $120.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 22.68% from the company’s previous close.

A number of other research firms have also commented on KYMR. Morgan Stanley reaffirmed an “overweight” rating and issued a $119.00 price objective on shares of Kymera Therapeutics in a research note on Thursday, April 30th. Bank of America upped their target price on shares of Kymera Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Brookline Capital Markets reiterated a “buy” rating on shares of Kymera Therapeutics in a research note on Monday, June 8th. Canaccord Genuity Group boosted their price target on shares of Kymera Therapeutics from $106.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kymera Therapeutics in a research report on Tuesday, April 21st. Twenty analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.64.

Kymera Therapeutics Stock Performance

NASDAQ KYMR opened at $114.12 on Thursday. The stock’s 50 day moving average price is $92.34 and its two-hundred day moving average price is $84.93. Kymera Therapeutics has a 52 week low of $36.65 and a 52 week high of $130.05. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of -31.97 and a beta of 1.95.

Kymera Therapeutics (NASDAQ:KYMR) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.18. The company had revenue of $34.37 million for the quarter, compared to analyst estimates of $8.27 million. Kymera Therapeutics had a negative net margin of 611.94% and a negative return on equity of 24.71%. The company’s revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) earnings per share. On average, equities research analysts forecast that Kymera Therapeutics will post -3.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bruce Booth sold 31,283 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $109.48, for a total transaction of $3,424,862.84. Following the sale, the director directly owned 461,794 shares in the company, valued at approximately $50,557,207.12. This represents a 6.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bvf Partners L. P/Il sold 1,578,800 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $106.50, for a total value of $168,142,200.00. Following the transaction, the director directly owned 240,123 shares in the company, valued at approximately $25,573,099.50. This represents a 86.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,644,113 shares of company stock worth $390,820,176 in the last 90 days. Insiders own 15.98% of the company’s stock.

Institutional Investors Weigh In On Kymera Therapeutics

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Kymera Therapeutics by 382.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $42,000 after purchasing an additional 424 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Kymera Therapeutics by 81.5% during the third quarter. Larson Financial Group LLC now owns 777 shares of the company’s stock worth $44,000 after buying an additional 349 shares during the period. Osaic Holdings Inc. boosted its position in shares of Kymera Therapeutics by 18,050.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,089 shares of the company’s stock worth $48,000 after acquiring an additional 1,083 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kymera Therapeutics by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $52,000 after buying an additional 98 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Kymera Therapeutics during the fourth quarter worth about $63,000.

Kymera Therapeutics Company Profile

Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body’s natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company’s proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas.

The company’s pipeline emphasizes immunology and oncology.