Oppenheimer analyst Jeff Jones lowered the firm’s price target on Kymera Therapeutics to $52 from $53 and keeps an Outperform rating on the shares. Kymera reported Q1 results and provided extensive detail on plans and timing of upcoming events across the portfolio, and Oppenheimer remains focused on STAT6 and the associated preclinical update at ATS in a few weeks, as well as upcoming data for the oncology programs at ASCO and EHA in June, the analyst tells investors in a research note. The company reported Q1 ending cash of $745M, which remains sufficient to comfortably support operations into 1H27, the firm says.
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