TD Cowen analyst Marc Frahm has maintained their bullish stance on KYMR stock, giving a Buy rating on May 9.
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Marc Frahm has given his Buy rating due to a combination of factors including the promising developments in Kymera Therapeutics’ pipeline, particularly with their lead asset KT-621. The company has completed dosing in a Phase I trial for KT-621, which targets STAT6 with high potency, and is set to release key biomarker data in June. This data is anticipated to demonstrate significant STAT6 degradation, which is crucial for the drug’s clinical efficacy.
Additionally, Kymera’s strategic decisions, such as the discontinuation of KT-295, have extended their financial runway into the first half of 2028, providing a stable financial outlook. The introduction of a new IRF5 degrader, KT-579, for rheumatologic diseases also adds to the company’s potential for growth. These factors combined suggest a positive trajectory for Kymera, justifying the Buy rating.
Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Kymera Therapeutics, and Janux Therapeutics Inc. According to TipRanks, Frahm has an average return of 2.6% and a 38.68% success rate on recommended stocks.
In another report released on May 9, Truist Financial also reiterated a Buy rating on the stock with a $53.00 price target.