Bank of America Securities analyst Tazeen Ahmad has maintained their bullish stance on KYMR stock, giving a Buy rating today.
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Tazeen Ahmad has given his Buy rating due to a combination of factors, primarily focusing on the promising potential of Kymera Therapeutics’ KT-621 in treating moderate to severe atopic dermatitis. Dermatologist Dr. Raymond Cho’s insights on the phase 1b data suggest that KT-621 could achieve a profile similar to dupilumab, with the potential for deeper biomarker and clinical endpoint responses in future studies. This optimism is fueled by the possibility of KT-621 capturing a significant portion of the market, especially among patients who prefer oral options over injectables.
Moreover, the observed reductions in biomarkers like TARC and IL-31 indicate KT-621’s ability to target multiple pathways, which could make it a viable option for patients who do not respond to current treatments. The clinical data also suggest competitive positioning, with KT-621 potentially offering similar efficacy to dupilumab in terms of EASI reductions and itch relief, which are critical aspects for patient satisfaction. Although the safety profile appears clean, longer-term data from phase 2b trials are anticipated to confirm these findings, further supporting the Buy rating with a price objective of $112.
In another report released today, Barclays also maintained a Buy rating on the stock with a $119.00 price target.