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Wells Fargo Thinks Kymera Therapeutics’ Stock is Going to Recover

Wells Fargo analyst Derek Archila maintained a Buy rating on Kymera Therapeutics (KYMRResearch Report) today and set a price target of $35.00. The company’s shares closed last Tuesday at $14.27, close to its 52-week low of $13.62.

According to TipRanks.com, Archila is a 1-star analyst with an average return of -1.4% and a 36.2% success rate. Archila covers the Healthcare sector, focusing on stocks such as Zentalis Pharmaceuticals, Prometheus Biosciences, and Horizon Therapeutics.

Currently, the analyst consensus on Kymera Therapeutics is a Strong Buy with an average price target of $56.00, implying a 272.1% upside from current levels. In a report issued on May 20, Brookline Capital Markets also maintained a Buy rating on the stock with a $80.00 price target.

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Kymera Therapeutics’ market cap is currently $738.1M and has a P/E ratio of -5.75.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KYMR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Kymera Therapeutics Inc is a biotechnology company pioneering a transformative new approach to treating previously untreatable diseases. The company is advancing the field of targeted protein degradation, accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins. Kymera’s Pegasus targeted protein degradation platform harnesses the body’s natural protein recycling machinery to degrade disease-causing proteins, with a focus on un-drugged nodes in validated pathways currently inaccessible with conventional therapeutics. It is accelerating drug discovery with an unmatched ability to target and degrade the intractable of proteins, and advance new treatment options for patients.

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