Leerink upgraded Kymera Therapeutics to Outperform from Market Perform with a $60 price target after assuming coverage of the name. The firm sees “immense potential” for the company’s STAT6 degrader KT-621 and thinks the Phase 1 data expected in the first half of 2025 should provide important safety and biomarker data to de-risk the program. Kymera is a leader in developing protein degraders in immunology, and KT-621 “holds the promise of delivering Dupixent-comparable efficacy in an oral format,” the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KYMR:
- Kymera Therapeutics to Participate in Upcoming September Investor Conferences
- Boeing’s Starliner to return without astronauts: Morning Buzz
- Kymera upgraded, MoonLake downgraded: Wall Street’s top analyst calls
- Wolfe upgrades Kymera Therapeutics, calls ‘great long-term trade’
- Kymera Therapeutics upgraded to Outperform from Peer Perform at Wolfe Research