Kymera Therapeutics price target raised to $54 from $41 at Truist

Truist analyst Srikripa Devarakonda raised the firm’s price target on Kymera Therapeutics to $54 from $41 and keeps a Buy rating on the shares following the company’s recent conversations with its management. The firm is citing its continued conviction in the company’s targeted protein degradation, TPD, platform and ability to generate degraders for a range of targets, along with its strategy focused on unmet need and genetically validated pathways, the analyst tells investors in a research note.