Morgan Stanley analyst Judah Frommer has maintained their bullish stance on KYMR stock, giving a Buy rating on November 26.
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Judah Frommer’s rating is based on the promising potential of Kymera Therapeutics’ lead asset, KT-621, which is an oral STAT6 degrader being evaluated in patients with atopic dermatitis (AD). The upcoming Phase 1b BroADen study data is expected to demonstrate a profile similar to Dupixent, a successful treatment in the same therapeutic area. This expectation is supported by previous healthy volunteer data, preclinical studies, and genetic research, suggesting that at least one of the doses being tested could meet the desired target product profile.
Despite some risks associated with the open-label trial design and the small sample size, the management’s confidence in the biomarkers and safety profile is reassuring. The potential for KT-621 to show clinical benefits, along with a wide therapeutic window indicated by earlier data, supports the narrative of a ‘pipeline-in-a-product.’ This combination of factors underpins the Buy rating, as it suggests significant upside potential for Kymera Therapeutics if the upcoming data meets expectations.
Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, Zenas BioPharma, Inc., and Kymera Therapeutics. According to TipRanks, Frommer has an average return of 1.5% and a 54.81% success rate on recommended stocks.
In another report released on November 26, Truist Financial also maintained a Buy rating on the stock with a $80.00 price target.