Kymera Therapeutics price target lowered to $70 from $72 at UBS

UBS lowered the firm’s price target on Kymera Therapeutics (KYMR) to $70 from $72 and keeps a Buy rating on the shares. The newly announced program targeting IRF5 is “interesting” but early, as Kymera continues to execute on the potential of its platform to develop oral degraders that may replicate biologic-like efficacy in immunology and inflammation, the analyst tells investors in a research note. UBS continues to have high conviction in Kymera long-term, where the firm sees high value in targeted protein degradation platform with a pipeline of novel, potentially very high value targets.