Shares of Kymera Therapeutics, Inc. (NASDAQ: KYMR) have been assigned a consensus rating of “Buy” by analysts covering the company, according to a report by Marketbeat. Of the twenty-two analysts evaluating the stock, one recommends selling it, while nineteen suggest buying, and two advocate for a strong buy. The average price target for the next year stands at $117.00, reflecting a strong confidence in the company’s future performance.
Brokerage Insights and Price Target Adjustments
Recent commentary from various brokerages indicates a bullish outlook for Kymera Therapeutics. On December 22, 2023, B. Riley Financial raised its target price from $80.00 to $117.00, maintaining a “buy” rating. Following suit, Barclays increased its price target to $133.00 and assigned an “overweight” rating on January 27, 2024.
Conversely, Weiss Ratings reiterated a “sell (d-)” rating on January 22, 2024. In another significant adjustment, JPMorgan Chase & Co. raised its target from $70.00 to $125.00 with an “overweight” rating on December 10, 2023, while Wells Fargo & Company increased its price objective from $69.00 to $116.00 on December 9, 2023.
Investors are clearly responding to these updates, as market sentiment around Kymera Therapeutics appears to strengthen.
Institutional Investor Activity
Changes among institutional investors highlight growing interest in Kymera Therapeutics. Legato Capital Management LLC boosted its stake by 40.6% in the fourth quarter, now owning 9,534 shares valued at approximately $742,000. Additionally, Keudell Morrison Wealth Management acquired a new stake valued at around $514,000, while Eagle Health Investments LP invested approximately $10.6 million.
Other notable transactions include PSP Research LLC, which purchased shares worth about $494,000, and Larson Financial Group LLC, which increased its holdings by 36.9%, now owning 1,064 shares valued at $83,000.
Current Stock Performance and Financial Outlook
As of the latest trading session, Kymera Therapeutics opened at $79.59. The stock has experienced a one-year low of $19.44 and a high of $103.00. The company currently possesses a market capitalization of $5.73 billion and a price-to-earnings (P/E) ratio of -22.17.
In a recent earnings report released on November 4, 2023, Kymera Therapeutics reported an earnings per share (EPS) of ($0.90), falling short of analyst expectations which had estimated ($0.71). The company reported revenues of $2.76 million, significantly below the projected $23.15 million.
Analysts forecast that Kymera Therapeutics will post an EPS of ($2.79) for the current fiscal year, indicating ongoing challenges as the company navigates its growth trajectory.
Founded in 2016 and headquartered in Watertown, Massachusetts, Kymera Therapeutics specializes in the discovery and development of small-molecule therapies that leverage the body’s natural protein homeostasis mechanisms. The company focuses on targeted protein degradation, aiming to selectively eliminate disease-causing proteins through its proprietary Pegasus™ platform, with an emphasis on advancing treatments in immunology and oncology.
