In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Kymera Therapeutics (KYMR – Research Report), with a price target of $54.00.
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Andrew Fein’s rating is based on the promising results from Kymera Therapeutics’ first-in-human trial of KT-621, a STAT6 degrader. The data from this trial significantly reduces the risk for upcoming Phase 1b and potentially two Phase 2 trials. The trial demonstrated rapid, potent, and durable pharmacodynamic effects, indicating KT-621’s potential as an alternative to injectable therapies for Th2-driven diseases.
Furthermore, KT-621 showed impressive results in terms of STAT6 degradation and modulation of key Th2 biomarkers. The trial’s findings, including over 90% STAT6 degradation in blood and significant reductions in TARC and Eotaxin-3, suggest that KT-621 could perform comparably or even exceed the effects of existing treatments like dupilumab. These factors collectively support a Buy rating for Kymera Therapeutics’ stock.
In another report released today, B.Riley Financial also upgraded the stock to a Buy with a $60.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KYMR in relation to earlier this year.