Kymera Therapeutics (NASDAQ:KYMR) Stock Rating Upgraded by Wells Fargo & Company

Kymera Therapeutics (NASDAQ:KYMR) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has a $57.00 price target on the stock, up from their previous price target of $38.00. Wells Fargo & Company‘s price objective points to a potential upside of 21.51% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Leerink Partners reissued an “outperform” rating and issued a $60.00 price target on shares of Kymera Therapeutics in a report on Monday, September 9th. Truist Financial reissued a “buy” rating and set a $53.00 target price (down from $54.00) on shares of Kymera Therapeutics in a research report on Friday, November 1st. Morgan Stanley raised their price objective on Kymera Therapeutics from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Stephens began coverage on Kymera Therapeutics in a research report on Monday, November 18th. They set an “overweight” rating and a $65.00 price objective on the stock. Finally, Leerink Partnrs raised Kymera Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.40.

Kymera Therapeutics Trading Down 1.7 %

NASDAQ KYMR opened at $46.91 on Monday. Kymera Therapeutics has a 1 year low of $20.32 and a 1 year high of $53.27. The company has a fifty day simple moving average of $46.66 and a 200 day simple moving average of $42.43. The company has a market cap of $3.04 billion, a P/E ratio of -20.05 and a beta of 2.16.

Kymera Therapeutics (NASDAQ:KYMR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.82) EPS for the quarter, topping 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 business had revenue of $3.74 million for the quarter, compared to analyst estimates of $10.34 million. During the same period in the previous year, the company posted ($0.90) earnings per share. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. Equities research analysts forecast that Kymera Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling at Kymera Therapeutics

In other news, Director Pamela Esposito sold 13,500 shares of Kymera Therapeutics stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $48.28, for a total value of $651,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.82% of the company’s stock.

Hedge Funds Weigh In On Kymera Therapeutics

Large investors have recently bought and sold shares of the business. Values First Advisors Inc. bought a new stake in Kymera Therapeutics in the third quarter valued at approximately $61,000. Quarry LP bought a new stake in shares of Kymera Therapeutics in the 3rd quarter valued at $95,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Kymera Therapeutics by 27.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 504 shares during the period. Comerica Bank lifted its holdings in Kymera Therapeutics by 13.7% during the first quarter. Comerica Bank now owns 3,324 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in Kymera Therapeutics in the second quarter valued at about $139,000.

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.