J.P. Morgan analyst Brian Cheng has maintained their bullish stance on KYMR stock, giving a Buy rating yesterday.
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Brian Cheng has given his Buy rating due to a combination of factors surrounding Kymera Therapeutics’ promising advancements in their STAT6 degrader program. The company is on track to deliver a Phase 1b readout for atopic dermatitis by the end of the year, with the recent completion of patient enrollment being a positive indicator. The anticipated results from this open-label trial, which have already provided enough confidence to select doses for the upcoming Phase 2b trials, suggest potential efficacy in treating atopic dermatitis and asthma.
Additionally, Kymera’s strategic plans for their internal IRF-5 program and the CDK2 partnership with Gilead Sciences further bolster the company’s growth prospects. The IRF-5 program is set to begin Phase 1 trials in early 2026, with a focus on lupus-related diseases, while the CDK2 collaboration aims to progress through option exercise by 2026. These initiatives, coupled with the company’s solid pipeline and strategic collaborations, underpin Cheng’s optimistic outlook on Kymera’s stock.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $68.00 price target.