TD Cowen analyst Marc Frahm has maintained their bullish stance on KYMR stock, giving a Buy rating yesterday.
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Marc Frahm has given his Buy rating due to a combination of factors surrounding Kymera Therapeutics’ promising developments and financial stability. The company has completed dosing for its KT-621 Phase 1b trial in atopic dermatitis, with data expected in December. This trial aims to confirm the degradation of STAT6 and the engagement of relevant pathways, which previously showed Dupixent-like potential in healthy volunteers. The upcoming data release is anticipated to provide early efficacy signs and support the initiation of larger Phase 2b studies in both atopic dermatitis and asthma.
Additionally, Kymera’s financial position is robust, with an end-of-Q3 cash reserve of $979 million, expected to sustain operations into the second half of 2028. This financial runway, coupled with the strategic progression of their clinical trials, underpins Frahm’s positive outlook on the company’s stock. The focus on confirming biomarker impacts and potential clinical efficacy in the upcoming trials further strengthens the investment case, despite the challenges of interpreting data from small, non-placebo-controlled studies.
Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Revolution Medicines, and Cullinan Management. According to TipRanks, Frahm has an average return of 14.4% and a 51.91% success rate on recommended stocks.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $73.00 price target.