Kymera Therapeutics price target lowered to $55 from $60 at BTIG

BTIG lowered the firm’s price target on Kymera Therapeutics (KYMR) to $55 from $60 and keeps a Buy rating on the shares. The company reported Q1 earnings in conjunction with its immunology innovation day, and while TYK2 was the larger market opportunity, the bar is beeing raised with the latest data from Johnson and Johnson’s (JNJ) icotrokinra and see the switch to IRF5 as prudent, giving Kymera the chance to be first- and best-in-class for a novel target in indications such as RA, SLE, Sjogrens, and others, while further extending cash runway into the first half of 2028, the analyst tells investors in a research note.